EURUSD 18 Jan 2024 W3 - Intraday Analysis - ECB Minutes

This is my Intraday analysis on EURUSD for 18 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:

4H Chart Analysis

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.

15m Chart Analysis

Finally we are out of the range where the 15m 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.

INT Structure turned Bullish (iBOS) confirming a 15m Swing Low formed and the start of the 15m Swing pullback Phase.
Expectation now is set to play the pullback phase as Bullish move till we reach a HP 4H Supply zone.
Just to note that we didn’t mitigate any POI to initiate the current Pullback. So be cautious that we may also continue Bearish till we mitigate the Daily/4H demand zone and from there we could continue the 4H Swing Bullish Continuation Phase.

Jan 18

Comment:

Frankfort Open 15m Chart Update:

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