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Euro / U.S. Dollar

EURUSD 30 Apr 2024 W18 - Intraday Analysis - EU CPI GDP / US CF

By Amr-Sadek
This is my Intraday analysis on EURUSD for 30 April 2024 W18 based on Smart Money Concept (SMC) which includes the following:

  1. Market Sentiment
  2. 4H Chart Analysis
  3. 15m Chart Analysis



Market Sentiment

Sentiment from Monday (April 29th) could carry over to Tuesday, depending on the outcome of Eurozone data releases (CPI, GDP) and US ( Consumer Confidence). A strong Euro today due to positive data might see some continuation.

4H Chart Analysis

https://www.tradingview.com/x/Aja1mktk/

1.

  • Swing Bearish
  • Internal Bearish
  • Sub-Internal Bullish
  • INT / Swing Pullback Phase


2.

  • Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.


3.

  • After a BOS we expect a Pullback. Price tapped into the Weekly demand and initiated the Swing Pullback Phase.
  • With the Bullish OF and as expected price reached the 4H supply with possible reaction from there.


4.

  • With Sub-INT / OF is holding Bullish, I Still see more upside as long we hold the recent Sub-INT Low (Green Line).
  • A break of the Sub-INT Low, this will confirm that the Pullback Phase maybe is over and we will continue down targeting the INT Low. On the other side if the Sub-INT Structure will stay Bullish, there is a HP we are targeting the mitigation of the Daily Supply.
  • More Price development needed.


15m Chart Analysis

https://www.tradingview.com/x/uZnjkFt4/

1.

  • Swing Bearish
  • Internal Bullish
  • Sell: Phase B (HP)
  • Long: Phase C (LP)


2.

  • Swing turned Bearish signaling the probability that the 4H Pullback is maybe over and we may resume the 4H Bearish continuation move.
  • No much change from yesterday, we still ranging within a Bullish INT Structure within a Bearish Swing.
  • Possible Longs from the the current fresh 15m demand but be mindful that we swept the Liquidity below it and the 15m Bearish Swing could continue and run the INT Low.
  • Shorts are currently not my interest till we have another Bearish Swing.


3.

  • 15m Demand within the INT Structure as it could provide a Low Probability Long Phase C trade.
Chart PatternsEUREURUSDintradayliquidityLTFMultiple Time Frame AnalysissmartmoneyconceptSMCstructureSupply and DemandUSD
Amr-Sadek
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