M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the price may carry on the bullish momentum on h1 time frame, as the price closes above the last key resistance at 1.16952 on h1 during the mid nyc yesterday. Meanwhile, the m15 time frame trades in bearish structure. However, the m15 confirmed the bullish momentum as the price closes above 1.16800 but the price invalidated the bullish structure and shifted from bullish to bearish structure at the time asian open. With this the price would respect the key resistance at 1.17022 on m15 and may continue for the further bearish structure.
Resistance Zones
M15 Resistance Zone
1.17008 – 1.17021
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.17385 – 1.17469
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the price trades in bearish structure on m15 time frame. Meanwhile the price hasn’t established any fresh or pending near by support on m15.
H1 Support Zone
1.16817 – 1.16747
Fresh Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the price may carry on the upside structure on h1 time frame, price may respect the key support zone at 1.16747 on h1. Therefore, a close below 1.16747 on h1 time frame. As a result price may initiate the downside momentum, setting up the fresh resistance zone at 1.16896 – 1.1695 on h1. In addition, a break above 1.17021 on m15, would validate the character shift to the bullish side. As a result, price may confirm the fresh support zone at 1.16945 – 1.16947 on m15. Moreover, if price looses 1.16855 on m15, may confirm the continuation bearish structure and may establish the fresh resistance at 1.16956 – 1.16967 on m15.
Nyc Session Update
Although price is likely to continue to bullish momentum on h1 time frame, as price trades above the last support at 1.16747 on h1. Meanwhile, the m15 time frame shifted the character from bearish to bullish, as price closes above 1.16896 on m15. As a result, price validated the fresh support zone at 1.16841 on m15. In addition, the price hasn’t confirmed any fresh demand zone on h1 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.16841 – 1.16823
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.15536 – 1.15462
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
Although the price trades in bullish structure on m15 time frame. Meanwhile the price hasn’t established any fresh or pending near by resistance zone on m15.
H1 Resistance Zone
1.17385 – 1.17469
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price is likely to continue the upside structure on h1 time frame, price holds the key support zone at 1.16747 on h1. Meanwhile, a break below 1.16747 on h1 time frame. As a result price may confirm the downside momentum, setting up the fresh resistance zone at 1.16896 – 1.1695 on h1. Moreover, a close below 1.16775 on m15, may validate the character shift to the bearish side. As a result, price would confirm the fresh resistance zone at 1.16823 – 1.16841 on m15.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.