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EURUSD 22 Jan 2024 W4 – Intraday Analysis

This is my Intraday analysis on EURUSD for 22 Jan 2024 W4 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 4H demand and Daily 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 HTF 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.

  • INT structure continuing Bullish again with Bullish iBOS.
  • After iBOS we expect a pullback. No HP demand zones except the one presented which is also not positioned well within the new INT Structure.
  • Waiting for more price development with expectations for price to continue bullish respecting the INT Low.

4.

  • Weak Swing low is still holding which means that the Swing pullback still active and we will have a deeper swing pullback.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/JNqCRgSI-EURUSD-22-Jan-2024-W4-Intraday-Analysis/

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