M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
However the EURUSD Forecast Today validated the downside structure on h1 time frame during the mid asian session, as the EURUSD Forecast Today closes below recent support at 1.17169 on h1 time frame. Therefore the EURUSD Forecast Today formed the fresh resistance at 1.17295 on h1 time frame. In addition, the m15 time frame extending its bearish structure, while trading below the last resistance at 1.17255. Meanwhile the EURUSD Forecast Today generated the fresh resistance at 1.17249 on m15 time frame. Moreover, a close below 1.17080 on m15 time frame, could confirm the extension of downside structure and form the fresh resistance at 1.17169 – 1.17181 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.17249 – 1.17255
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.17295 – 1.17327
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16852 – 1.16842
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.16824 – 1.16793
Pending Demand Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price is expected to remain under the bearish bias on h1 time frame. Therefore the price remains below the resistance at 1.17550 on h1 time frame. Meanwhile a decisive close above 1.17550 on h1 time frame. As a result price may secure the bullish bias and print the fresh support at 1.17327 – 1.17295 on h1 time frame. In addition, a sustained close above 1.17255 on m15 time frame, the price may shift the momentum to the bullish side and may produce the fresh support at 1.17201 – 1.17189 on m15 time frame.
Nyc Session Outlook
Although price may carry on the bearish momentum on h1 time frame, until 1.17550 remains intact on h1 time frame. Meanwhile the price remains aligned with previous resistance at 1.17295 on h1 time frame. Therefore the price hasn’t confirmed any fresh resistance on h1 time frame. On the other hand, m15 time frame confirmed a fresh breakdown below 1.17081 and introduced the fresh resistance at 1.17169 on m15 time frame. In addition, a break below 1.16861 on h1 time frame, would confirm the fresh resistance at 1.17023 – 1.17078 on h1 time frame
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17169 – 1.17183
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.17295 – 1.17327
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16852 – 1.16842
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.16824 – 1.16793
Pending Demand Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is likely to maintain the bearish bias on h1 time frame. Therefore the price stay below the resistance at 1.17550 on h1 time frame. Meanwhile a confirmed close above 1.17550 on h1 time frame. As a result price could secure the bullish momentum and shape the fresh support at 1.17327 – 1.17295 on h1 time frame. In addition, a define close above 1.17183 on m15 time frame. As a result price may tilt the structure to the bullish side and may set up the fresh support at 1.17085 – 1.17080 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