This is my Intraday analysis on EURUSD for 11 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

NOTE : Nothing changed since yesterday too, price still ranging since last Friday NFP and market waiting US CPI Today.


4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish
  • Reached EQ

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 creating Bullish CHoCHs.
  • Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it’s the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme.
  • With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme.
    Lets wait for LTF confirmations and price development.

3.

  • Swing extreme demand for possible continuation to the upside.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bullish
  • At Swing Extreme Low

2.

  • INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme.
  • The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone.
  • This demand is mitigated now and we are currently ranging.
  • For me it’s clear now that market is waiting for CPI news today which will will provide us a clear view for next week.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/5TtliHk7-EURUSD-11-Jan-2024-W2-Intraday-Analysis-US-CPI-Day/

I’m Amr

Passionate about the art of trading, I embark on a journey documenting experiences, insights, and growth, where every entry is a step in my journey. Step into my world where dedication meets strategy.

Let’s connect

June 2024
S M T W T F S
 1
2345678
9101112131415
16171819202122
23242526272829
30  

ADP AUDUSD BTC Consumer Confidence CPI CPI Revisions Durable Goods DXY ECB ECB Meeting Minutes education EUR EURUSD FOMC GBPUSD GDP GOLD Home Sales Housing HTF IFO Industrial Production Interest Rate Intraday Jobless Claims Liquidity LTF Markups NASDAQ NFP PCE PMI Powell PPI Retail Sales Safe Haven Smart Money Concept SMC Structure Trade Balance USD USDJPY Weekly XAUUSD ZEW