This is my Intraday analysis on EURUSD for 18 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
- Swing Bearish
- Internal Bearish
- Swing Pullback Phase
2.
- Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.
3.
- After a BOS we expect a Pullback. Currently price within the Weekly Demand and approaching a 4H/Daily demand zone.
- As expected the PB started after the Bullish CHoCH forming a new Demand Zone and confirming the Bearish INT Structure Low.
- Expectations is set for continuing Bullish till a HP POI.
4.
- 4H Supply zone for possible reactions. But note that it’s not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.
- Swing Bullish
- Internal Bullish
- Swing Pullback Phase
2.
- As expected, price created a Bullish BOS based on the 4H/Daily need for a Pullback.
- After a BOS we expect a PB. As INT structure is Bullish, a Bearish iBOS will be the confirmation that the 15m Swing PB is starting. But be mindful that price in a Bullish momentum and a deep Swing PB is not often happen on the start of the move.
- Following the Bullish Phase we are in, looking for longs is the best option till the mitigation of the close 4H Supply zone.
3.
- Extreme Demand zone within the 15m Swing for possible Longs if reached.
- But be mindful if we reached this Demand, PA is not looking in Bullish momentum and there will be a HP that the Swing low will be run.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/z00DZHFF-EURUSD-18-Apr-2024-W16-Intraday-Analysis-US-Jobless-Claims/
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