This is my Intraday analysis on EURUSD for 9 May 2024 W19 based on Smart Money Concept (SMC) which includes the following:

Market Sentiment

Nothing changed since the start of the week and as per Tuesday sentiment here, investors are waiting for a catalyst to have a clear policy direction for the upcoming quarter.

4H Chart Analysis


1.

  • Swing Bearish
  • Internal Bullish
  • Reached Swing EQ
  • INT Structure 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.

  • Nothing much changed since yesterday as we just tapping into a demand zone (FLIP) that may provide some bullish reaction.
  • INT Structure turned Bullish signaling a complex pullback phase with deep pullback that reached the Swing EQ and tapped into the Daily Supply.
  • Currently with INT Structure is Bullish we don’t have a solid confirmation that the Swing PB is over and we will continue Bearish. Instead, INT structure could continue Bullish.
  • More Price development required from LTF in order to play the INT Structure PB or the INT structure Bullish continuation.

15m Chart Analysis


1.

  • Swing Bullish
  • Internal Bullish
  • Long : Phase B (LP)
  • Short : Phase C (HP)

2.

  • Finally we are barely out from Friday NFP Range and price still ranging with clear direction.
  • With a Bearish iBOS we confirmed the 15m Swing Pullback.
  • Currently price tapped and formed Bullish Sub-Internal Structure that is facilitating the INT Pullback.
  • Not convinced much of Longs as per our position in the HTF (Tapped into Daily Supply), instead will follow the Bearish INT Structure and look for Shorts from 15m Supply that are well positioned within the Swing.

3.

  • 15m/4H Demand zones for possible longs one reached.

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/8qBWjO7c-EURUSD-9-May-2024-W19-Intraday-Analysis-US-Jobless-Claims/

I’m Amr

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