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 shows the bearish effectiveness on h1 time frame. Therefore bearish effectiveness remains intact below the latest high at 1.16618 on h1 time frame. However bears confirmed the fresh restriction area at 1.16513 on h1 time frame. On the other hand, m15 time frame keep the bearish momentum intact, as the structure protects the recent high at 1.16170 on m15 time frame. Although the bears continue their effectiveness through the prior restriction area on m15 time frame. Moreover, a move below 1.15922 on m15 time frame, could generate the fresh resistance at 1.16110 – 1.16147 on m15 time frame
Resistance Zones
M15 Resistance Zone
1.16254 – 1.16268
Previous Selling Range
Untapped Supply Area
H1 Resistance Zone
1.16513 – 1.16574
Fresh Supply Region
Active Distribution Range
Support Zones
M15 Support Zone
1.15748 – 1.15715
Old Demand Field
Intraday Accumulation Boundary
H1 Support Zone
1.15544 – 1.15462
Pending Accumulation Area
Critical Support Base
Session Strategy
Although the structure could keep sellers interested on h1 time frame. Meanwhile the bears remain valid below the last high at 1.16618 on h1 time frame. However, a break above 1.16618 on h1 time frame. As a result bulls may initiate their momentum and establish the fresh support at 1.16574 – 1.16513 on h1 time frame. In addition, a decisive close above 1.16170 on m15 time frame, may confirm the structure may summon the bulls and form the fresh support at 1.16056 – 1.16018 on m15 time frame.
Nyc Session Outlook
However the structure could stay towards towards the selling side on h1 time frame, with this the sellers remains intact below the latest high at 1.16148 on h1 time frame. Meanwhile sellers developed the fresh resistance boundary at 1.16108 on h1 time frame. On the other hand, the m15 time frame remains under bearish pressure, with the EURUSD Forecast Today holding the recent high at 1.16060 on m15 time frame. Although the sellers stay with the old supply zones on m15 time frame.
Key Resistance & Supply Zone
Resistance Zones
M15 Resistance Zone
1.16125 – 1.16148
Previous Selling Range
Untapped Supply Area
H1 Resistance Zone
1.16108 – 1.16148
Fresh Supply Region
Active Distribution Range
Support Zones
M15 Support Zone
1.15748 – 1.15715
Old Demand Field
Intraday Accumulation Boundary
H1 Support Zone
1.15544 – 1.15462
Pending Accumulation Area
Critical Support Base
Session Strategy
Although the structure holds the selling bias on h1 time frame. As a result the bears holds their dominance below the last high at 1.16148 on h1 time frame. Meanwhile, a close above 1.16148 on h1 time frame. However, bulls may initiate the buying and could secure the fresh support at 1.15956 – 1.15922 on h1 time frame. Moreover, a hold above 1.16060 on m15 time frame, could confirm bullish setup and form the fresh buying interest at 1.15955 – 1.15922 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