M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the price may extend its bearish price structure on h1 time frame. As a result, the price confirmed character shift towards the bearish side on and h1 time frame, during the mid nyc session yesterday. As a result, price closes below 1.16688 on h1 time frame and formed the fresh resistance at 1.16962 on h1. In addition, the m15 time frame confirmed the fresh resistance on m15 at 1.16786. As the price formed the character shift towards the bearish side, during the nyc session yesterday.
Resistance Zones
M15 Resistance Zone
1.16786 – 1.16797
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.16962 – 1.17079
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.15747 – 1.15715
Pending Demand Zone
Short Term Key support Zone
H1 Support Zone
1.15542 – 1.15459
Pending Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the price is likely to continue the bearish price structure on h1 time frame, as the price trades below the key resistance at 1.17217 on h1. Meanwhile, a decisive close above 1.17217 on h1, may confirm the change of character towards the bullish side on h1. As a result, price would expose the fresh support at 1.17079 – 1.16962 on h1. Moreover, a break above 1.16797 on m15. As a result, price may establish the character shift towards the bullish side, the price would validate the fresh support at 1.16741 – 1.16689 on m15. In addition, if price looses 1.16435 on h1 and m15, the price would confirm the fresh supply zone at 1.16664 – 1.16710 on h1, m15 at 1.16692 – 1.16710.
Nyc Session Update
Although the price may continue its bearish momentum on h1 time frame, as the price holds the last resistance at 1.17217 on h1 time frame. Meanwhile, the price hasn’t established any fresh resistance none of any time frame m15 and h1 during the london session. Therefore, the previous supply zones would remain effective on both the time frame. In addition, awaiting for the new structure.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.16786 – 1.16797
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.16962 – 1.17079
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.15747 – 1.15715
Pending Demand Zone
Short Term Key support Zone
H1 Support Zone
1.15542 – 1.15459
Pending Demand Zone
Higher Time Frame Support Base
Session Strategy
Although the h1 structure may continue to favor the sellers on h1 time frame, as the price is respecting the key resistance at 1.17217 on h1. Meanwhile, a close above 1.17217 on h1, would confirm the character shift towards the upside on h1. As a result, price would validate the fresh demand at 1.17079 – 1.16962 on h1. In addition, reclaiming 1.16797 on m15. As a result, price may form the change of character towards the bullish side, the price may validate the fresh support at 1.16741 – 1.16689 on m15. Moreover, if a decisive close below 1.16435 on h1 and m15, the price would setup the fresh resistance zone at 1.16664 – 1.16710 on h1, m15 at 1.16692 – 1.16710.
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.