EURUSD 17 Jan 2024 W3 - Intraday Analysis - US Retail/ EU CPIThis is my Intraday analysis on EURUSD for 17 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H
15m
4H Chart Analysis
1.
Swing Bullish
INT Bearish
OF Bearish
In Discount
2.
Price made a bullish BOS and after a BOS we expect a pullback.
After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH.
Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones and ranged.
OF is bearish within the Swing Pullback phase signaling that we still looking for deeper pullback to the next Daily/4H Demand zones.
Current targets will be the Daily/4H demand zones and we can wait for price development on LTF to see if we will resume the Bullish Swing or not.
3.
Swing extreme demand for possible continuation to the upside.
15m Chart Analysis
1.
Swing Bearish
Internal Bearish
2.
Finally we are out of the range where the Swing turned bearish signaling the expectation that if the Swing turned bearish then the 4H is having a deep pullback phase within the 4H Bullish Swing.
After a BOS we expect a pullback phase to initiate and we will be looking for Bullish iBOS to confirm Swing Low and the initiation of the Swing pullback.
I'll be cautious that after range we were in the momentum will be aggressive and pullback may not happen directly and following the current INT structure will be the safe option.
3.
INT structure is continuing bearish and i would expect the continuation bearish till we reach the Daily/4H Demand zone as current targets.
No HP supply zone within the current INT structure as all are mitigated.
I'll be waiting for the next INT structure for Shorts if we didn't reach the Daily/4H Demand zones first.
