This is my Intraday analysis on EURUSD for 12 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
NOTE : Nothing changed much also yesterday even with CPI news. a whole ranging week and i wish we get out of that range today so we can have better opportunities next week. Wishing everyone a good weekend.
4H Chart Analysis
- 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.
- Swing Bullish
- Internal Bullish
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 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.
3.
- After CPI news yesterday, we pushed above range high (NFP High) which enabled me after to mark INT Structure high as we did a CHoCH.
- Currently we still ranging inside the INT Structure. My Bias still Bullish till we see bearish Structures.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/iVjCQYAg-EURUSD-12-Jan-2024-W2-Intraday-Analysis-US-PPI-Day/
