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 continues to trade under the previously established bearish structure on h1 time frame, as the sellers defends the last high at 1.17188 on h1 time frame. Meanwhile the EURUSD Forecast Today remains with the previously established resistance zones on h1 time. On the other hand, the m15 time frame continues the bullish trend, while trading above the last low at 1.17041 on m15 time frame. As a result EURUSD Forecast Today secured the fresh support at 1.17042 on m15 time frame. Moreover, a move above 1.17188 on m15 time frame, could confirm the bullish continuation and establish the fresh support at 1.17118 – 1.17098 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.17430 – 1.17469
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.17406 – 1.17469
Pending Supply Area
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
1.17042 – 1.17041
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
1.16936 – 1.16921
Pending Demand Zone
Higher Time Frame Support Area
Session Strategy
However the price may continue to show the sellers strength on h1 time frame. Meanwhile the price remain below the last high at 1.17188 on h1 time frame. However, a finish above 1.17188 on h1 time frame, as the price may secure the bullish bias and form the fresh support at 1.17124 – 1.17098 on h1 time frame. In addition, acceptance below 1.17042 on m15 time frame. As a result price may shift structure to the bearish side and produce the fresh resistance at 1.17168 – 1.17181 on m15 time frame.
Nyc Session Outlook
Although the price may holds the bearish bias on h1 time frame. Therefore the price remains below the prior low at 1.17188 on h1 time frame. However the price hasn’t setup any fresh resistance on h1 time frame. Therefore the pending zones would remain valid on h1. In addition, m15 time frame stays under the bullish bias, while trading above last low at 1.17041 on m15. Meanwhile the m15 time frame honours the pending support zones, as the price hasn’t confirmed any fresh support on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17430 – 1.17469
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.17406 – 1.17469
Pending Supply Area
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
As the price trades under the bullish bias on m15 tine frame. Meanwhile the price hasn’t secured any fresh support, as previous fresh support at 1.17042 already tapped by the price. Therefore awaiting for the fresh breakout on m15 time frame
H1 Support Zone
1.16936 – 1.16921
Pending Demand Zone
Higher Time Frame Support Area
Session Strategy
However the price could reflect the sellers dominance on h1 time frame. Therefore, the bears remain dominating below the last high at 1.17188 on h1 time frame. Meanwhile, a confirmed close above 1.17188 on h1 time frame, as the price may indicate the bullish bias and establish the fresh support at 1.17124 – 1.17098 on h1 time frame. In addition, a decisive close below 1.17042 on m15 time frame. As a result price may turn the structure to bearish side and could produce the fresh resistance at 1.17168 – 1.17181 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