This is my Intraday analysis on EURUSD for 13 Dec 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bearish
  • Reached EQ

2.

  • INT structure turned bearish to liquidate the INT Low (Liquidity above the Daily Demand) and mitigated the daily demand zone.
  • INT Structure is currently bearish, so we are still bearish and there is a high probability that we may break the Swing Low as per the Daily/Weekly Bearish Continuation.
  • On the other side, 4H/Daily Swings are bullish and we are at the extremes. If we are going to continue these bullish structure then at least we need to see Bullish iBOS on the 4H. We also could benefit from LTFs to show us early if that daily mitigation could develop to be a Swing Continuation on the 4H/Daily.

    Waiting for LTF to show me more developments.

3.

  • Swing low and last demand for potential buys.

4.

  • Technically, we still bearish and potentially we can continue down. But looking on the current market fundamentals, Market is in indecision sentiment due to End of Year (December), Inflation Expectations and Rate Hikes/Cut. Volatility is the nature of December due to the lack of liquidity.

15m Chart Analysis

1.

  • Swing Bearish
  • Internal Bullish
  • Reached EQ

2.

  • Price failed to break the Strong Swing High and swept the liquidity above causing a bearish ChoCH.
  • We still in bearish Swing and looking on the bigger picture we are still in the same range for almost 2 weeks now.
  • Not much interested still in Shorting until we have a decent pullback to daily supply. From Intraday prospective, Shorts is the proper play following the 4H/15m Bearish Structure.
  • Will wait for more development if there will be opportunity for Longs confirmation after the 15m Swing / 4H internal turns Bullish.

3.

  • No Supply zones for Shorts that can be potential.

4.

  • Risky Demand zone for longs. Solid confirmation needed before longs.

Dec 13, 2023

Comment:

London Open 15m Chart: Nothing interesting as it’s FOMC Day

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/zmrHDEW5-EURUSD-13-Dec-2023-Intraday-Analysis-US-PPI-FOMC-Day/

I’m Amr

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