This is my Intraday analysis on EURUSD for 19 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 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 currently is bullish after the Bullish CHoCH. Demand formed from the CHoCH is mitigated and still holding. But that Bullish OF is not coming from a HP POI so there is a high probability we will continue down unless we see Bullish OF holding and continuing.
  • 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.

  • 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.

3.

  • Currently the new INT structure is Bullish and we had reached the extreme and price respected the INT Low and continued up.
  • Expectation that we are going to target the INT High as long we respect the Swing Low.
  • Also there is a high probability that we may break the Swing low as we didn’t mitigate any HP POI to initiate a pullback.

Jan 19

Comment:

Correction to the Title today : EURUSD 19 Jan 2024 W3 – Intraday Analysis – EU PPI – US Home Sales

Also Frankfort open 15m Chart :

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/S90wkS0r-EURUSD-19-Jan-2024-W3-Intraday-Analysis-EU-Con-Confidence/

I’m Amr

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