This is my Intraday analysis on EURUSD for 8 Jan 2024 W2 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

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 creating Bullish CHoCHs.
  • Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it’s the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme.
  • With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If it demand fails i would expect price continuing to the Swing extreme.
    Lets wait for LTF confirmations and price development.

3.

  • Swing extreme demand for possible continuation to the upside.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bullish
  • At Swing Extreme Low

2.

  • After the recent Bullish BOS price started a series of Bearish INT Structures to facilitate the Swing Pull Back.

3.

  • INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme.
  • The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a fresh 15m/4H Demand zone.
  • This demand is the last demand zone in order for the 15m Swing to stay bullish. If failed, then we will have a deeper push down and the 4H will have the second view for deep Swing Pullback.

4.

  • Potential demand zone within the Swing extreme.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/e4y2JCbS-EURUSD-8-Jan-2024-W2-Intraday-Analysis-EUR-Retail-Sales/

I’m Amr

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