This is my Intraday analysis on EURUSD for 20 Dec 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish
  • Reached EQ/Extreme

2.

  • INT structure turned bullish as expected and we are currently in 4H Swing continuation targeting the Weak Swing High and maybe more above.
  • After the iBOS we would expect a pullback but be mindful with the current solid bullish momentum and that we are currently Pro Swing and Pro Internal, pullbacks will not be deep so be patient and cautious and utilize LTF to guide you.

3.

  • Swing low and last demand for potential buys.

4.

  • Price had mitigated the Daily/4H Supply zones and currently close to the Weak Swing High.
  • Price reacted as expected from the 4H demand zone and we are currently in the same momentum to target the 4H Weak Swing High.
  • In my POV the current reaction from the 4H/Daily Supply zones is not yet reflecting as a rejection as the reaction didn’t achieve anything significant even no Fractal CHoCH. So as long we stay bullish and demand holding we are still solidly bullish.
  • Also as we are approaching the end of the year, moves will not be in momentum so i recommend to better observe the market and prepare yourself to the next year runs.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bearish
  • INT INT Bullish

2.

  • Price created a bearish iBOS which confirms a Swing High.
  • We are currently in the Swing pullback phase which means we are in a short term bearish momentum to facilitate the Swing pullback.
  • We have some potential supply zones for Shorts to play the Swing Pullback as long we didn’t reach the Swing EQ/Discount.
  • We had mitigated the extreme supply withing the INT structure but the INT INT Structure is Still Solid Bullish. We need an iiBOS to confirm that the INT pullback is over and we can look for Shorts to play the 15m Swing Pullback.
  • But be mindful that we are in the 4H Bullish Continuation Phase and we are targeting the Weak Swing High on 4H and also on 15m, so Shorts are risky that’s why we need a solid structure breaks to confirm the bearish move.

Dec 20, 2023

Comment:

Frankfort Open 15m Chart:

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/QKUIbRRG-EURUSD-20-Dec-2023-Intraday-Analysis-EU-US-Consumer-Confidence/

I’m Amr

Passionate about the art of trading, I embark on a journey documenting experiences, insights, and growth, where every entry is a step in my journey. Step into my world where dedication meets strategy.

Let’s connect

June 2024
S M T W T F S
 1
2345678
9101112131415
16171819202122
23242526272829
30  

ADP AUDUSD BTC Consumer Confidence CPI CPI Revisions Durable Goods DXY ECB ECB Meeting Minutes education EUR EURUSD FOMC GBPUSD GDP GOLD Home Sales Housing HTF IFO Industrial Production Interest Rate Intraday Jobless Claims Liquidity LTF Markups NASDAQ NFP PCE PMI Powell PPI Retail Sales Safe Haven Smart Money Concept SMC Structure Trade Balance USD USDJPY Weekly XAUUSD ZEW