M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the EURUSD Forecast Today is continuing the bearish structure on h1 time frame. As a result EURUSD Forecast Today respects the key resistance zone at 1.17888 on h1 time frame. Meanwhile the m15 time frame following the h1 bearish structure below the key resistance zone at 1.17888 on m15 time frame. In addition, the h1 and m15 time frame hasn’t established any fresh resistance zone on both the time frame. Therefore the pending resistance zone would remain valid on both the time frame. Moreover, a move below 1.17671 on h1 time frame, may expose the fresh resistance at 1.17853 – 1.17874 on h1 and
Resistance Zones
M15 Resistance Zone
1.18075 – 1.18093
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.18004 – 1.18049
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the EURUSD Forecast Today trades in bearish on m15 time frame. Therefore the EURUSD Forecast Today hasn’t established any fresh or near by support zone on m15 time frame
H1 Support Zone
1.17643 – 1.17582
Pending Demand Zone
Higher Time Frame Support Zone
Session Strategy
However the price may maintain the bearish momentum on h1 time frame, as long as the price stay below the last key resistance zone at 1.17888 on h1. Therefore a finish above 1.17888 on h1 time frame. As a result price would validate the bullish structure and may introduce the fresh support zone at 1.17796 – 1.17727 on h1 time frame. On the other hand, if price record a close above 1.17888 on m15 time frame. As a result price may initiate the bullish momentum and could shape the fresh support zone at 1.17733 – 1.17727 on m15 time frame.
Nyc Session Outlook
Although the h1 time frame shifted its structure and initiated the bullish momentum, as the price closes above the last resistance at 1.17888 on h1. Meanwhile the price introduce the fresh support at 1.17796 on h1 time frame. In addition the m15 time frame follows the h1 bullish structure by giving decisive close above 1.17888 on m15. Therefore the price formed the fresh support at 1.17733 on m15.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.17733 – 1.17727
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.17796 – 1.17727
Fresh Demand Zone
Higher Time Frame Support Zone
Resistance Zones
M15 Resistance Zone
1.18075 – 1.18093
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.18004 – 1.18049
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to trade with in the bullish momentum on h1 time frame, as long as the price stay above the last support zone at 1.17672 on h1. Therefore a finish below 1.17672 on h1 time frame. As a result price may validate the bearish structure and could introduce the fresh resistance zone at 1.17727 – 1.17796 on h1 time frame. On the other hand, a close below 1.17672 on m15 time frame. As a result price would initiate the bearish momentum and may shape the fresh resistance zone at 1.17727 – 1.17733 on m15 time frame.
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.
Moreover, check out my previous EURUSD Forecast
In addition, for daily EURUSD chart analysis refer my Forex Analysis EURUSD section