M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
EURUSD Forecast Today established the bullish momentum during the mid nyc yesterday on h1 time frame, as EURUSD Forecast Today closes above the resistance at 1.17079 on h1. As a result price formed the fresh support at 1.16875 on h1. In addition, the m15 time frame confirmed the bearish bias during mid asian session today. As a result EURUSD Forecast Today close below the near by support at 1.17070 on m15 time frame and introduced the fresh resistance at 1.17137 on m15.
Support Zones
M15 Support Zone
1.16876 – 1.16861
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.16876 – 1.16861
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.17137 – 1.17179
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.17296 – 1.17327
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the may hold the bullish bias on h1 time frame, as price trades above the support zone at 1.16776 on h1 time frame. Meanwhile, a move below on 1.16776 on h1 time frame. As a result price could secure the bearish structure and may shape the fresh resistance at 1.16861 – 1.16876 on h1 time frame. Moreover, a finish above 1.17207 on m15 time frame. As a result price may establish the dual character change to the bullish side and could create the fresh support at 1.17179 – 1.17137 on m15 time frame.
Nyc Session Outlook
However the price is expected to stay bullish on h1 time frame, as price stay above the lastest support at 1.16776 on h1 time frame. Although the price continues to respect the previous zone on h1 time frame. Meanwhile the price hasn’t shaped any fresh support on h1 time frame. Therefore the pending zone would remain active on h1 time frame. In addition, the m15 time frame secured a breakout confirmation above 1.17083 and initiated the bullish momentum while creating the fresh support at 1.16977 on m15 time frame. Moreover, a break above 1.17207 on h1 time frame, would confirm the bullish extension and may establish the fresh support at 1.17003 – 1.16936 on h1.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.16977 – 1.16969
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
1.16876 – 1.16861
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.17137 – 1.17179
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.17296 – 1.17327
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price would keep the bulls in control on h1 time frame, as price operates above the support zone at 1.16776 on h1 time frame. Therefore, a breakdown below on 1.16776 on h1 time frame. As a result price may shift the structure to bearish side and may create the fresh resistance at 1.16861 – 1.16876 on h1 time frame. Moreover, acceptance below 1.16936 on m15 time frame. However price may tilt the structure to the bearish side and could form the fresh resistance at 1.16969 – 1.16977 on m15 time frame.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
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