M15 & H1 Intraday Key Levels| Bullish Bias (mid London shift)
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
EURUSD Forecast Today initiated the bearish movement amid nyc session yesterday, as the EURUSD Forecast Today accepted a close below 1.16776 on h1 time frame. As a result, EURUSD Forecast Today setup the fresh resistance at 1.16848 on h1 time frame. In addition, m15 time frame remains in bearish bias, as the EURUSD Forecast Today trades below the nearby resistance at 1.16894 on m15 time frame. Meanwhile EURUSD Forecast Today shaped the fresh resistance at 1.16874 on m15 time frame. In addition, a breakdown below 1.16651 on m15 time frame, may open the door for further downside and could confirm the fresh resistance at 1.16633 – 1.16648 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.16874 – 1.16895
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.16848 – 1.16895
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.15746 – 1.15715
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.15542 – 1.15465
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may carry forward the bearish structure on h1 time frame. Meanwhile the price operates below the recent resistance at 1.16895 on h1 time frame. Therefore, a finish above 1.16895 on h1 time frame, as the price may reinforce the bullish structure on h1 time frame and confirm the fresh support at 1.16723 – 1.16614 on h1 time frame. Moreover, a secured close above 1.16895 on m15 time frame. As a result price could establish the bullish bias and introduce the fresh support at 1.16641 – 1.16614 on m15 time frame.
Nyc Session Outlook
Although the price initiated the bullish momentum on h1 time frame. Therefore the price ended above the resistance at 1.16895 on h1 time frame. Meanwhile the established the fresh support at 1.16723 on h1 time frame. Moreover, the m15 time frame follows the broader time frame bullish structure. As a result price trades above the recent support at 1.16734 on m15 time frame and formed the fresh support at 1.16799 on m15 time frame.
Key Support & Resistance Zones
Support Zones
M15 Support Zone
1.16799 – 1.16734
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.16723 – 1.16614
Fresh Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.16874 – 1.16895
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.17249 – 1.17255
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to reflect the buyers strength on h1 time frame. Therefore the price trades above the latest support at 1.16552 on h1 time frame. Meanwhile, a define close below 1.16552 on h1 time frame, as the price may change structure to the downside on h1 time frame and setup the fresh resistance at 1.16614 – 1.16723 on h1 time frame. In addition, a sustained close below 1.16734 on m15 time frame. As a result price may change the character to the sellers side and may markout the fresh resistance at 1.16903 – 1.16976 on m15 time frame.
Key Takeways
Trend: Bullish (mid London shift)
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