This is my Intraday analysis on EURUSD for 16 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:


NOTE : Still price is ranging and i’m waiting for a break out of that range. Order flow on 4H is currently bearish within the INT Structure so my expectation is to stay bearish and may target the 15m Swing Low. A formation of Bearish Structure will indicate that the 4H Swing pullback is not yet done and we may have a deep pullback within the 4H Swing.

4H Chart Analysis


  • Swing Bullish
  • INT Bullish
  • OF Bearish
  • Reached EQ


  • 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 demand fails i would expect price continuing to the Swing extreme.
    Lets wait for LTF confirmations and price development.


  • Swing extreme demand for possible continuation to the upside.

15m Chart Analysis


  • Swing Bullish
  • Internal Bullish
  • At Swing Extreme Low


  • 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.


  • It’s clear now that after NFP and CPI the market is in indecision phase and needs a catalyst to get out of the range.
  • For me price still Bullish until we have a Bearish Swing (Solid close below Swing Low)
  • I’ll be waiting for more price development outside the range we are currently in.

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