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 could continue the bearish momentum on h1 time frame. Meanwhile the EURUSD Forecast Today failed to sustain above the support at 1.16776 on h1 time frame and shifted bullish structure to the bearish side. As a result the EURUSD Forecast Today trades below the last resistance at 1.17394 on h1 time frame. Meanwhile the m15 time frame follows the h1 bearish structure, while trading below the last resistance at 1.17354 on m15 time frame. In addition, a close below 1.16641 on m15 time frame, may create the fresh resistance at 1.16889 – 1.16948 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.17324 – 1.17354
Fresh Supply Region
Short Term Key Resistance Zone
H1 Resistance Zone
1.17138 – 1.17230
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.15745 – 1.15714
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.15542 – 1.15460
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price is likely to remain with in the bearish structure. As a result the price respects last resistance at 1.17394 on h1 time frame. Therefore if price post a close above 1.17394 on h1 time frame. As a result price may signal the bullish structure shift and may develop the fresh support at 1.17230 – 1.17138 on h1 time frame. Moreover, a decisive close above 1.17354 0n m15 time frame could signal the bullish structure shift. As a result price may shape the fresh support zone at 1.17139 – 1.17136 on m15 time frame. In addition, a close below 1.16639 on h1 time frame, would create the fresh resistance at 1.16878 – 1.16948 on h1 time frame.
Nyc Session Update
Although the price is likely to hold bearish bias on h1 time frame, As a result price trades below the last resistance at 1.17394 on h1. Meanwhile the price hasn’t established any fresh resistance on h1 time frame. In addition, the m15 time frame confirmed the bullish structure shift, as the price settle above 1.16948 on m15 time frame and established the fresh support at 1.16792 on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17324 – 1.17354
Pending Supply Region
Short Term Key Resistance Zone
H1 Resistance Zone
1.17138 – 1.17230
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16792 – 1.16780
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.15542 – 1.15460
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to hold the bearish structure, as the remain capped below the last resistance at 1.17394 on h1 time frame. Therefore, if price confirm a close above 1.17394 on h1 time frame. As a result price could signal the bullish structure shift and could create the fresh support at 1.17230 – 1.17138 on h1 time frame. Moreover, a close below 1.16780 0n m15 time frame could confirm the bearish structure shift. As a result price may create the fresh resistance zone at 1.16889 – 1.16947 on m15 time frame. In addition, a confirmed close above 1.17001 on h1 time frame, may shape the fresh support at 1.16856 – 1.16826 on h1 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