M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
EURUSD Forecast Today may continue to favor the sellers on h1 time frame, as the EURUSD Forecast Today hovers below the nearby resistance at 1.16915 on h1 time frame. Meanwhile the EURUSD Forecast Today introduced the fresh resistance at 1.16876 on h1 time frame. In addition, the m15 could continue to benefit the sellers, while trading below the recent resistance at 1.16915 on m15 time frame. As a result EURUSD Forecast Today generated the fresh resistance at 1.16913 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.16913 – 1.16915
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.16876 – 1.16915
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16641 – 1.16614
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.16723 – 1.16614
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although price may remain tilted towards the sellers on h1 time frame, as the price sustaining below the resistance at 1.16915 on h1 time frame. Therefore, a finish above 1.16915 on h1 time frame. As a result price could tilt the bias to the bullish side and may develop the fresh support at 1.16864 – 1.16799 on h1 time frame. Meanwhile, acceptance above 1.16915 on m15 time frame, as the price may signal the bullish structure shift and could build the fresh support at 1.16819 – 1.16799 on m15 time frame.
Nyc Session Outlook
However the price could remain favorable for the sellers on h1 time frame. Therefore the price positioned below the resistance at 1.16915 on h1. Meanwhile the price hasn’t introduced any fresh resistance on h1. As a result previously established resistance would remain active and valid on h1. On the other hand, the m15 shift its structure to the bullish side, as the price closes above the resistance at 1.16915 on m15. Meanwhile the price hasn’t setup any fresh support on m15, as the fresh support already tapped by the price at 1.16819 on m15. In addition, a breakout above 1.16977 on m15, as the structure may continue towards upside extension and from the fresh support at 1.16859 – 1.16834 on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.17158 – 1.17180
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.17151 – 1.17180
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.16641 – 1.16614
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.16723 – 1.16614
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although price may continue to benefit the sellers on h1 time frame, as the price continuing below the resistance at 1.16915 on h1 time frame. Therefore, a secured close above 1.16915 on h1 time frame. As a result price may shift the structure to the bullish side and may create the fresh support at 1.16864 – 1.16799 on h1 time frame. Meanwhile, a decisive close below 1.16768 on m15 time frame, as the price could signal the upside continuation and could shape the fresh resistance at 1.16799 – 1.16819 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