EURUSD Intraday Analysis: EU ZEW / US Housing

This is my Intraday analysis on EURUSD for 19 Mar 2024 W12 based on Smart Money Concept (SMC) which includes the following Time Frames:

4H Chart Analysis

After a BOS and iBOS we expect a Pullback.
As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.

4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
After iBOS we expect a pullback. Price had reached the INT Structure Demand zone and created a Bullish CHoCH which indicates that the INT Pullback maybe over and we are currently targeting the Weak INT High. after which price failed to target the Weak INT High.
Current price indicate that we will have a deep 4H INT Pullback to maybe the 4H/Daily Demand zones before any continuation.

As expected, Price reached the Daily demand zone as refereed to the deep INT Structure Pullback.
We have now the 2 scenarios; if price will continue up targeting the Weak INT High we will respect the Strong Low.
If price breaking the Strong INT Low, then the Daily view in play and we will target the 4H/Daily Weak Swing Low.

15m Chart Analysis

15m / 4H Supply Zones for possible shorts once reached. But be mindful that the 4H CHoCH is currently the 15m Swing High and there is a HP we will take it after mitigating the Daily Demand zone.

Related Posts

Charting my Trading Odyssey