This is my Intraday analysis on EURUSD for 9 Jan 2024 W2 based on Smart Money Concept (SMC) which includes the following Time Frames:
- 4H
- 15m
NOTE : Nothing changed since yesterday, price still ranging since last Friday NFP and market waiting US CPI on Thursday
4H Chart Analysis
- 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.
- 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.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/eIr2jLUD-EURUSD-9-Jan-2024-W2-Intraday-Analysis-US-Trade-Balance/
