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 may remain favorable to the sellers on h1 time frame. As a result EURUSD Forecast Today operates below the near by resistance at 1.17626 on h1 time frame. On the other hand, m15 time frame shifted it structure from bearish to bullish side. As a result EURUSD Forecast Today accepted the close above the near by resistance at 1.17092 on m15 time frame. Therefore the EURUSD Forecast Today hasn’t confirmed any fresh support on m15 time frame, as the previous support at 1.17052 already tapped by the price. Moreover, a secured close above 1.17137 on m15 would confirm the extension bullish structure and may establish the fresh support at 1.16956 – 1.16950 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.17151 – 1.17169
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.17507 – 1.17627
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16818 – 1.16808
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.15543 – 1.15462
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may maintains the bearish momentum on h1 time frame. As a result price remains capped below the recent resistance at 1.17628 on h1 time frame. Meanwhile, a finish above 1.17628 on h1 time frame. As a result price could reinforce the bullish momentum and may set up the fresh support at 1.17256 – 1.17191 on h1 time frame. Moreover, a sustained close below 1.16924 on m15 time frame, the price may signal the structure shift to bearish side and may form the fresh resistance at 1.17053 – 1.17049 on m15 time frame.
Nyc Session Outlook
Although the price is likely to maintain its bearish bias on h1 time frame. As the price operates below the last resistance at 1.17137 on h1 time frame. Meanwhile the h1 time frame established the fresh resistance at 1.17117 on h1 time frame. In addition, the m15 time frame shifted its structure to the bearish side, as the price closes below recent support at 1.16924 on m15. Therefore the price exposed the fresh resistance at 1.17048 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17048 – 1.17052
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.17117 – 1.17137
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16818 – 1.16808
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.15543 – 1.15462
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to hold the bearish bias on h1 time frame. As a result price trades below the near by resistance at 1.17137 on h1 time frame. Meanwhile, a define close above 1.17137 on h1 time frame. As a result price may initiate the bullish momentum and could set up the fresh support at 1.17057 – 1.16924 on h1 time frame. Moreover, acceptance below 1.17136 on m15 time frame, the price could signal the momentum shift to bullish side and could form the fresh support at 1.16978 – 1.16924 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