M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
However the h1 time frame established the downside character shift. As a result EURUSD Forecast Today accepted the close below the last support at 1.17674 on h1 time frame. Therefore the EURUSD Forecast Today set up the fresh resistance at 1.18173 on h1 time frame. Meanwhile the m15 time continuing the h1 bearish structure. As a result EURUSD Forecast Today confirmed bearish momentum and set up the fresh resistance at 1.17564 on m15 time frame. In addition, acceptance below 1.17292 on h1 time frame, would indicate the bearish extension and may set up the fresh resistance at 1.17602 – 1.17627 on h1 time frame.
Resistance Zones
M15 Resistance Zone
1.17564 – 1.17571
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.18172 – 1.18239
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the EURUSD Forecast Today trades in bearish structure on m15 time frame. Therefore the EURUSD Forecast Today hasn’t confirmed any fresh or nearby support zone on m15 time frame.
H1 Support Zone
1.17231 – 1.17142
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price is expected remain in downside structure on h1 time frame, as long as the price stay below the last resistance at 1.18496 on h1. Therefore finish above 1.18496 on h1 time frame. As a result price may reinforce the structure shift to bullish side and may introduce the fresh support at 1.18239 – 1.18172 on h1 time frame. On the other hand, a sustained close above 1.17626 on m15 time frame. As a result price may support bullish momentum and could form the fresh support at 1.17571 – 1.17564 on m15 time frame.
Nyc Session Outlook
However the structure would remain in the favor of sellers, as the price holds the last resistance at 1.18496 on h1 time frame. Meanwhile the price hasn’t established any fresh resistance on h1 time frame. In addition, the m15 time frame trades in the bullish structure, while trading above the last support at 1.17538 on m15 time frame. Moreover the price hasn’t formed any fresh support on m15 time frame. Therefore the pending support zone and resistance would remain on m15 and h1 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17987 – 1.17994
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.18172 – 1.18239
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
The price hasn’t confirmed any fresh support zone yet. Meanwhile the previous support zone is already tapped by the price at 1.17593 on m15
H1 Support Zone
1.17231 – 1.17142
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may stay with in the downside structure on h1 time frame, as the price holds the last resistance at 1.18496 on h1. Therefore a sustained close above 1.18496 on h1 time frame. As a result price could reinforce the bullish side structure shift and could introduce the fresh support at 1.18239 – 1.18172 on h1 time frame. In addition, a close below 1.17538 on m15 time frame. As a result price structure may tilt to bullish side and would form the fresh resistance at 1.17671 – 1.17721 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