M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the price may continue to trade in bullish structure on h1 time frame. As the price trades above the last support area at 1.31596. Meanwhile the m15 time frame shifted its character from bearish to bullish during the mid nyc session yesterday, while giving the decisive close above 1.32259 on m15. Therefore the m15 time frame established the fresh support area at 1.32035. Moreover the h1 hasn’t established any fresh support on h1 time frame. Therefore the pending support would remain valid at 1.31121 on h1.
Support Zones
M15 Support Zone
1.32035 – 1.32016
Fresh Support Zone
Short Term Intraday Support Base
H1 Support Zone
1.31121 – 1.31096
Pending Demand Zone
Higher Time Frame Resistance Region
Resistance Zones
M15 Resistance Zone
1.33124 – 1.33203
Pending Supply Zone
Short Term Intraday Resistance Area
H1 Resistance Zone
1.34288 – 1.34364
Pending Supply Zone
Higher Time Frame Region
Session Strategy
Although the price may extend its bullish momentum on h1 time frame, as the price trades holds the last support area at 1.31596. Therefore, break below 1.31596 on h1, may indicate the character shift towards the bearish side on h1 time frame. As a result, price would confirm the fresh resistance at 1.32333 – 1.32381 on h1. In addition, if price looses 1.31823 on m15 time frame. As a result, the price may confirm the change of character to bearish side while establishing the fresh resistance 1.32016 – 1.32035 on m15 time frame. Moreover, a close above 1.32514 on m15 time frame, may establish the support at 1.32215 – 1.32184 on m15.
Nyc Session Update
Although the price may continue to trade in bullish price structure on h1, as the buyers are defending the support area at 1.31596. In addition, a decisive close above 1.33463 on h1. As a result, the price may confirm the continuation of bullish price structure while establishing the fresh support at 1.31861 on h1. Moreover the m15 time frame trades in bullish structure, as the buyers holds the support at 1.31823 on m15. Meanwhile m15 previous support area would remain valid at 1.32035.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.32035 – 1.32016
Fresh Support Zone
Short Term Intraday Support Base
H1 Support Zone
1.31121 – 1.31096
Pending Demand Zone
Higher Time Frame Resistance Region
Resistance Zones
M15 Resistance Zone
1.33124 – 1.33203
Pending Supply Zone
Short Term Intraday Resistance Area
H1 Resistance Zone
1.34288 – 1.34364
Pending Supply Zone
Higher Time Frame Region
Session Strategy
Although the h1 time frame favors buyers, as the price trades above the key support area at 1.31596 on h1. In addition, if price looses 1.31596 on h1, may confirm the character shift towards the bearish side on h1 time frame. As a result, price would establish the fresh resistance at 1.32333 – 1.32381 on h1. In addition, a decisive close below 1.31823 on m15 time frame. As a result, the price may confirm the change of character to bearish side while establishing the fresh resistance 1.32016 – 1.32035 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.