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Euro / U.S. Dollar

EURUSD 24 Apr 2024 W17 - Intraday Analysis - US Durable Goods

By Amr-Sadek
This is my Intraday analysis on EURUSD for 24 Apr 2024 W17 based on Smart Money Concept (SMC) which includes the following:

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


Market Sentiment

EURUSD is slightly bullish: The Euro is currently showing some strength, having gained yesterday strong Euro data and on weaker US data.

Market is cautious: Upcoming US inflation data is keeping investors cautious, potentially limiting gains for the Euro. US Durable Goods will be the watch today for volatility.

4H Chart Analysis

https://www.tradingview.com/x/kut4t2ve/

1.

  • Swing Bearish
  • Internal Bearish
  • 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. Currently price within the Weekly Demand and approaching a 4H/Daily demand zone.
  • As expected price reached the 4H supply with possible reaction from there.
  • Expectations is set to continue Bullish to facilitate the 4H Swing Pullback.


4.

  • 4H Supply zone for possible reactions. But note that it's not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.
  • Bearish CHoCH will be the first sign fora bearish reaction from the 4H Supply.




15m Chart Analysis

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

1.

  • Swing Bullish
  • Internal Bullish
  • Long: Phase A2
  • Short: Phase C (Require Bearish iBOS)


2.

  • Price had created another Bullish Swing BOS aligning with the HTF requirements for a Pullback.
  • Price had reached 4H Supply zone which could initiate the Swing Pullback Phase. For a PB phase to start we need a Bearish iBOS.


3.

  • Current INT Low is the 4H Fractal CHoCH
Chart PatternsEUREURUSDintradayliquidityLTFMultiple Time Frame AnalysissmartmoneyconceptSMCstructureSupply and DemandUSD
Amr-Sadek
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