M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the h1 time frame may carry on the bearish price structure. As a result, price established character shift towards the bearish side during mid nyc session yesterday, as the price closes below 1.34069 on h1. Therefore, the price established the fresh resistance on h1 at 1.34338. Meanwhile the m15 follows the h1 bearish structure, as the price closes below 1.34069 on m15 time frame. However, the price expose the fresh resistance at 1.34423 on. In addition, a break below 1.33817 on h1, would form the fresh resistance zone at 1.33993 – 1.34066 on h1. On the other hand, a close below 1.33814 on m15, would establish the fresh supply zone at 1.34070 – 1.34092 on m15 .
Resistance Zones
M15 Resistance Zone
1.34226 – 1.34251
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.34338 – 1.34461
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.32588 – 1.32554
Pending Demand Zone
Short Term Key Support Zone
H1 Support Zone
1.32432 – 1.32373
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the may continue its bearish price structure on h1 time frame, as the price respects the key resistance at 1.34847 on h1. Meanwhile, a decisive close above 1.34847 on h1 time frame. As a result, price may validate the change of character towards the bullish side, while setting up the fresh support zone at 1.34461 – 1.34338 on h1. Moreover, a reclaiming the 1.34251 on m15, the price would validate the character shift towards the bullish side. As a result, price may expose the fresh demand at 1.34160 – 1.34104 on m15 time frame.
Nyc Session Update
Although the price may continue to trade in bearish structure on h1 time frame. As a result, the price is respecting the key resistance zone at 1.34847 on h1 time frame. Meanwhile, the price hasn’t set up any fresh resistance on any time frame m15 & h1. Therefore, the pending resistance zone would remain valid on both the time frame. In addition, awaiting for the new structure.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.34226 – 1.34251
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.34338 – 1.34461
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.32588 – 1.32554
Pending Demand Zone
Short Term Key Support Zone
H1 Support Zone
1.32432 – 1.32373
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may continue to favors the sellers on h1 time frame, as the price trades below the key resistance at 1.34847 on h1. Therefore, a close above 1.34847 on h1 time frame. As a result, price would validate the character shift towards the upside, while forming the fresh support zone at 1.34461 – 1.34338 on h1. In addition, a break above the 1.34251 on m15, the price would confirm the change of character towards the bullish side. As a result, price may establish the fresh support zone at 1.34160 – 1.34104 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.