This is my Intraday analysis on EURUSD for 24 Apr 2024 W17 based on Smart Money Concept (SMC) which includes the following:

Market Sentiment

  • EURUSD is slightly bullish: The Euro is currently showing some strength, having gained yesterday strong Euro data and on weaker US data.
  • Market is cautious: Upcoming US inflation data is keeping investors cautious, potentially limiting gains for the Euro. US Durable Goods will be the watch today for volatility.

4H Chart Analysis


1.

  • Swing Bearish
  • Internal Bearish
  • INT / Swing Pullback Phase

2.

  • Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.

3.

  • After a BOS we expect a Pullback. Currently price within the Weekly Demand and approaching a 4H/Daily demand zone.
  • As expected price reached the 4H supply with possible reaction from there.
  • Expectations is set to continue Bullish to facilitate the 4H Swing Pullback.

4.

  • 4H Supply zone for possible reactions. But note that it’s not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.
  • Bearish CHoCH will be the first sign fora bearish reaction from the 4H Supply.

15m Chart Analysis


1.

  • Swing Bullish
  • Internal Bullish
  • Long: Phase A2
  • Short: Phase C (Require Bearish iBOS)

2.

  • Price had created another Bullish Swing BOS aligning with the HTF requirements for a Pullback.
  • Price had reached 4H Supply zone which could initiate the Swing Pullback Phase. For a PB phase to start we need a Bearish iBOS.

3.

  • Current INT Low is the 4H Fractal CHoCH

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/nyYyHyJ7-EURUSD-24-Apr-2024-W17-Intraday-Analysis-US-Durable-Goods/

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