This is my Intraday analysis on EURUSD for 23 Jan 2024 W4 based on Smart Money Concept (SMC) which includes the following Time Frames:

  • 4H
  • 15m

Note: Nothing changed much since yesterday and yesterday analysis still the same.


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.

Jan 23

Comment:

Frankfort Open 15m Chart update: As i was expecting the 15m Swing pullback still active and we created another bullish iBOS.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/vMRtTuRe-EURUSD-23-Jan-2024-W4-Intraday-Analysis-EU-Cons-Confidence/

I’m Amr

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