M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the h1 time frame confirmed bullish structure shift during mid nyc session yesterday. As a result EURUSD Forecast Today closes above the near by resistance at 1.17757 on h1 and the EURUSD Forecast Today printed the fresh support at 1.17652 on h1. Meanwhile the m15 structure indicated the initiation of downside momentum, as the EURUSD Forecast Today closes below the recent support at 1.17787 on m15 time frame. As a result EURUSD Forecast Today established the fresh resistance at 1.17891 on m15. Moreover acceptance above 1.17911 on h1 time frame, may strengthen the bullish structure and my form the fresh support at 1.17757 – 1.17735 on h1.
Support Zones
M15 Support Zone
1.17711 – 1.17671
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.17651 – 1.17560
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.17890 – 1.17899
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.18170 – 1.18240
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to hold the bullish bias on h1. As a result price trades above the last support zone at 1.17561 on h1. Therefore, a sustain close below 1.17561 on h1. As a result price may shift to the downside structure and would develop the fresh resistance at 1.17707 – 1.17756 on h1. On the other hand, a close above 1.17911 on m15 time frame. Meanwhile the price may tilt momentum to bullish side and would create the fresh support at 1.17890 – 1.17898 on m15. In addition, if price post a close below 1.17735 on m15. As a result price could continue to the bearish extension and could establish the fresh resistance at 1.17815 – 1.17823 on m15
Nyc Session Outlook
Although the price may maintain the bullish advantage on h1 time frame. As a result price price respects the recent support zone at 1.17561 on h1 time frame. Meanwhile the price hasn’t validated any fresh support zone on h1 time frame. Therefore the price trades with the previous support zones on h1 time frame. In addition the m15 time frame formed the fresh resistance at 1.17815 on m15. Moreover, a close below 1.17569 on m15 time frame, would confirm the extension of bearish momentum and could set up the fresh resistance at 1.17658 – 1.17670 on m15.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
As the price trades favors the sellers on m15 time frame. Therefore the price hasn’t confirmed any fresh or near by support on m15. Meanwhile awaiting for the new structrue.
H1 Support Zone
1.17231 – 1.17142
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.17816 – 1.17823
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.18170 – 1.18240
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may remain tilted to the bullish bias on h1. As a result price operates above the last support zone at 1.17561 on h1. Therefore, a define close below 1.17561 on h1. As a result price would shift the structure to the bearish side and could develop the fresh resistance at 1.17707 – 1.17756 on h1. Meanwhile, if price records a close above 1.17823 on m15 time frame. Meanwhile the price may shift the momentum to buyers side and could create the fresh support at 1.17739 – 1.17735 on m15.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
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