M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
EURUSD Forecast Today established the bearish structure on h1 time frame amid nyc session yesterday. As a result, EURUSD Forecast Today closes below 1.17352 on h1 time frame. Meanwhile the EURUSD Forecast Today confirmed the fresh resistance at 1.17477 on h1 time frame. In addition, m15 time frame remains aligned with the bearish bias, as the EURUSD Forecast Today operates below recent high at 1.17500 on m15 time frame. As a result EURUSD Forecast Today formed the fresh resistance at 1.17479 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.17479 – 1.17500
Fresh Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.17477 – 1.17500
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.17168 – 1.17158
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.16936 – 1.16921
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may manage to trade under the bearish structure on h1 time frame. Therefore the price hovers below the recent high at 1.17500 on h1 time frame. Meanwhile, a decisive close above 1.17500 on h1 time frame. As a result price may support bullish bias and setup the fresh support at 1.17408 – 1.17351 on h1 time frame. On the other hand, acceptance above 1.17500 on m15 time frame. However, the price could shift the momentum to the bullish side and generate the fresh support at 1.17412 – 1.17361 on m15 time frame.
Nyc Session Outlook
However the could hold the bearish momentum on h1 time frame, as the price continues to trade below recent high at 1.17468 on h1 time frame. Meanwhile the price secured the fresh resistance at 1.17407 on h1 time frame. In addition, the m15 initiated bullish momentum, as the price closes above latest high at 1.17117 on m15 time frame. As a result structure confirmed the fresh support at 1.17073 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17430 – 1.17468
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.17407 – 1.17468
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.17073 – 1.17054
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
1.16936 – 1.16921
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price could stay with the bearish structure on h1 time frame, as the structure defends the recent high at 1.17468 on h1 time frame. Therefore, if price registered a close above 1.17468 on h1 time frame. As a result price could support bullish momentum and may markout the fresh support at 1.17328 – 1.17218 on h1 time frame. Moreover, if price ended below 1.16957 on m15 time frame. However, the price could confirm the sellers dominance and and may shape the fresh resistance at 1.17054 – 1.17073 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