This is my Intraday analysis on EURUSD for 17 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:

  • 4H
  • 15m

4H Chart Analysis

1.

Swing Bullish
INT Bearish
OF Bearish
In Discount

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 and ranged.
  • OF is bearish within the Swing Pullback phase signaling that we still looking for deeper pullback to the next Daily/4H Demand zones.
  • Current targets will be the Daily/4H demand zones and we can wait for price development on LTF to see if we will resume the Bullish Swing or not.

3.

  • Swing extreme demand for possible continuation to the upside.

15m Chart Analysis

1.

  • Swing Bearish
  • Internal Bearish

2.

  • Finally we are out of the range where the Swing turned bearish signaling the expectation that if the Swing turned bearish then the 4H is having a deep pullback phase within the 4H Bullish Swing.
  • After a BOS we expect a pullback phase to initiate and we will be looking for Bullish iBOS to confirm Swing Low and the initiation of the Swing pullback.
  • I’ll be cautious that after range we were in the momentum will be aggressive and pullback may not happen directly and following the current INT structure will be the safe option.

3.

  • INT structure is continuing bearish and i would expect the continuation bearish till we reach the Daily/4H Demand zone as current targets.
  • No HP supply zone within the current INT structure as all are mitigated.
  • I’ll be waiting for the next INT structure for Shorts if we didn’t reach the Daily/4H Demand zones first.

Jan 17

Comment:

Frankfort Open Update :

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/8CvCmmo6-EURUSD-17-Jan-2024-W3-Intraday-Analysis-US-Retail-EU-CPI/

I’m Amr

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