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 could continue to perform under the bearish bias on h1 time frame. However the sellers continue their dominance below 1.17215 on h1 time frame. Therefore the sellers established the latest distribution zone at 1.17183 on h1. Meanwhile the bears remains present on m15 time frame. As a result EURUSD Forecast Today sellers defends the latest high at 1.16575 on m15 time frame. Although the structure confirmed the fresh resistance at 1.16537 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.16537 – 1.16575
Latest Distribution Area
Short Term Supply Zone
H1 Resistance Zone
1.17183 – 1.17215
Fresh Supply Order block
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
1.15749 – 1.15718
Prior Accumulation Area
Potential Support Zone
H1 Support Zone
1.15545 – 1.15462
Projected Buying Area
Higher Time Frame Support Base
Session Strategy
However the price is expected to trade under bearish bias on h1 time frame. Therefore the price stay below the recent high at 1.17215 on h1 time frame. Meanwhile, a define close above 1.17215 on h1 time frame. As a result price could turn the structure to the bullish side and generate the latest support at 1.17029 – 1.16955 on h1 time frame. In addition, a secured close above 1.16575 on m15 time frame. However the price may confirm the bullish continuation and introduce the fresh support at 1.16470 – 1.16458 on m15 time frame.
Nyc Session Outlook
Although structure could continue to advantage the sellers on h1 time frame. Meanwhile the sellers continue their dominance below 1.17215 on h1 time frame. However the price respects the prior resistance zone on h1 time frame. Therefore the structure hasn’t confirmed any fresh resistance on h1 yet. In addition, the m15 time frame follows the h1’s bearish bias and trade below distribution zone at 1.16575 on m15 time frame. Meanwhile the price hasn’t established any fresh resistance zone on m15 time frame. Moreover, a close below 1.16176 on m15, as the price could confirm the bearish bias intact and generate the fresh resistance at 1.16492 – 1.16555 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.16537 – 1.16575
Previous Distribution Area
Short Term Supply Zone
H1 Resistance Zone
1.17183 – 1.17215
Prior Supply Order block
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
1.15749 – 1.15718
Prior Accumulation Area
Potential Support Zone
H1 Support Zone
1.15545 – 1.15462
Projected Buying Area
Higher Time Frame Support Base
Session Strategy
However the structure may remain with bearish structure on h1 time frame. Although the sellers protects the last high at 1.17215 on h1 time frame. However, a secured close above 1.17215 on h1 time frame. Meanwhile price may shift the bias to the bullish side and may introduce the latest support at 1.17029 – 1.16955 on h1 time frame. On the other hand, if price registered a close above 1.16575 on m15 time frame. As a result price may change the character to the bullish side and create the fresh support at 1.16470 – 1.16458 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