This is my Intraday analysis on EURUSD for 12 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 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


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

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/

I’m Amr

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