This is my Intraday analysis on EURUSD for 25 Apr 2024 W17 based on Smart Money Concept (SMC) which includes the following:

Market Sentiment

Euro’s recent strength: The Euro has gained some ground against the USD lately, fueled by weaker US data and supporting the Pullback Phase after the YTD lows.

US data as a game changer: The upcoming US GDP and Jobless Claims reports are the main event. Strong numbers could significantly strengthen the USD, reversing the Euro’s recent gains.

Cautious market: Investors are holding back until the data is released, creating a wait-and-see sentiment that could limit the Euro’s upside potential specially with US PCE Inflation Report tomorrow.

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. Price tapped into the Weekly demand and initiated the Swing Pullback Phase.
  • With the Bullish OF and 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.

  • As price reached the 4H Supply with Bullish OF, price showed a bearish reaction as expected to facilitate a Pullback to recent Demand.
  • Price tapped into the 4H Demand and currently in the momentum to create a new high.
  • As indicated previously, the Liquidity on the left above the 4H Supply and possibly the Swing EQ are the targets.

15m Chart Analysis

15m Chart Analysis


1.

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

2.

  • Price mitigation to the 4H Demand.

3.

  • Price turned bullish after mitigating the 4H Demand turning INT structure to Bullish.
  • With INT structure is Bullish, expectations are set that we are going to target the Weak Swing High.
  • But be mindful that we are still within the 4H Supply Zone that is partially mitigated yesterday so Phase A2 after the BOS will be tough. But Phase C will be applicable if we have a Bearish iBOS.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/Yz19kbXu-EURUSD-25-Apr-2024-W17-Intraday-Analysis-US-GDP-Jobless/

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