M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
The price is bearish on higher timeframe as the price established change of character during the mid asian session on m15 and h1 timeframe while establishing fresh resistance on m15 and h1 time frame.
Resistance Zones
M15 Resistance Zone
1.34026 – 1.34097
Fresh Resistance Zone
Intraday Supply Zone
H1 Resistance Zone
1.33974 – 1.34097
Fresh Resistance Zone
Higher time frame Supply Zone
Support Zones
M15 Support Zone\H1 Support Zone
As the price is in bearish structure, hence the price hasn’t established any near by support on m15 as well as on h1 higher time frame.
Session Strategy
The price will remain bearish until price trades below 1.34122 on h1 time frame. If price decisively closes above 1.34122 on h1 time frame with full candle body then the price will establish dual change of character on m15 and h1 in both the time frame, meanwhile the fresh support will be at 1.34097 on m15 and h1 higher time frame. On higher time frame if price closes below 1.32837 on h1 then the price will establish new resistance at 1.33338 on h1 time frame. Meanwhile if price closes above 1.33407 on m15 the the price would establish change of character, establishing the support at 1.33122 as a short term intraday demand zone.
Nyc Session Outlook
Although the price continues its bearish structure on higher time frame h1. Moreover in the mid london session the price change its character from bearish to bullish on m15 time frame while establishing the fresh support at 1.33115. Meanwhile the higher time frame resistance will remain at 1.33974.
Key Resistance and Support Zones
M15 Resistance
1.34026 – 1.34097
Pending Resistance Area
Intraday Short Term Resistance Zone
H1 Resistance
1.33973 – 1.34097
Pending Resistance Area
Higher Time Frame Resistance Zone
Support Zone
M15 Support
1.33115 – 1.33030
Fresh Support Region
Intraday Demand Zone
H1 Support: As the price trades bearish on higher time frame, hence no support formed on higher time frame. Awaiting for the new structure.
Session Strategy
Although the sellers are dominating on the higher time frame. Meanwhile a decisive close above 1.34122 could establish the change of character on higher time frame h1 while forming the support at 1.34097. On the other hand, a break below 1.33030 on m15 time frame. As a result, the price would establish character shift from bullish to bearish on m15 while forming the support at 1.33445. Until the 1.33030 remain intact the buyers will remain dominating on m15 timeframe.
Key Takeways
Trend: Bearish
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.