This is my Intraday analysis on EURUSD for 2 Feb 2024 W5 based on Smart Money Concept (SMC) which includes the following Time Frames:

4H
15m



4H Chart Analysis


1.

  • Swing Bullish
  • INT Bearish
  • OF Bearish
  • In Swing 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 4H/Daily demand zones as expected after breaking the range and formed a Bullish INT Structure iBOS.
  • This Bullish iBOS failed to continue Bullish and we changed to Bearish INT Structure which means that the Swing Pullback Phase is not over.
  • We are also within the 4H Swing Demand/Discount so keep in mind that at anytime the Swing Continuation could start.
  • More price development needed with the current PA.

3.

  • As the INT Structure turned Bearish, we resumed again the Swing Pullback which in my opinion going to target the Swing Low.
  • After iBOS we expected a Pullback, CHoCH is the first sign that the INT Structure Pullback is starting.
  • Price did the Pullback and failed after to break and close below the Weak INT Low. This leaded to target the High that failed to break the low.
  • Still the INT is bearish but in point #2 we are assuming that Bullish Swing Continuation could start at any time so this could be the one. Bullish iBOS will be a solid sign for that.
  • More Price development needed to assess better.

15m Chart Analysis


1.

  • Swing Bearish
  • INT Bullish
  • Swing Extreme

2.

  • Swing is Bearish after mitigating a HTF Supply.
  • After a BOS we expect a pullback, INT structure turned Bullish to facilitate the Swing Pullback where we reached the15m Swing Extreme and 4H Supply Zone.
  • INT Structure still bullish so there is HP to take out this Strong Swing High.
  • On the Flip side, a failure to create a Bullish BOS and we get a Bearish iBOS will indicate that the Swing Pullback is over and we could be starting the Pro Bearish Swing Move.
  • Today NFP so be cautious.

3.

  • 15m/4H Demand zones for reaction when reached.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/psqBYwqA-EURUSD-2-Feb-2024-W5-Intraday-Analysis-NFP-Day/

I’m Amr

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