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
  • 15m

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bearish
  • OF Bullish
  • 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 Bullish
  • Pullback Phase

2.

  • 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.

3.

  • 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:

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/H5GnHLqr-EURUSD-18-Jan-2024-W3-Intraday-Analysis-ECB-Minutes/

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