This is my Intraday analysis on EURUSD for 29 April 2024 W18 based on Smart Money Concept (SMC) which includes the following:
Market Sentiment
No major economic data releases are scheduled for Monday, limiting significant movement in the pair. However, the intervention in JPY leading to a USD weakness which will provide support for EURUSD some Bullish stand.
Also note that the current week includes EU CPI and US FOMC / NFP which most probably result in a volatility and investors are positioning for that upcoming news events.
4H Chart Analysis
1.
2.
3.
4.
15m Chart Analysis
1.
2.
3.
- Market Sentiment
- 4H Chart Analysis
- 15m Chart Analysis
Market Sentiment
No major economic data releases are scheduled for Monday, limiting significant movement in the pair. However, the intervention in JPY leading to a USD weakness which will provide support for EURUSD some Bullish stand.
Also note that the current week includes EU CPI and US FOMC / NFP which most probably result in a volatility and investors are positioning for that upcoming news events.
4H Chart Analysis
1.
- Swing Bearish
- Internal Bearish
- Sub-Internal Bullish
- 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.
4.
- With Sub-INT / OF is holding Bullish, I Still see more upside as long we hold the recent Sub-INT Low (Green Line).
- A break of the Sub-INT Low, this will confirm that the Pullback Phase maybe is over and we will continue down targeting the INT Low. On the other side if the Sub-INT Structure will stay Bullish, there is a HP we are targeting the mitigation of the Daily Supply.
- More Price development from Intraday analysis to confirm a scenario.
15m Chart Analysis
1.
- Swing Bearish
- Internal Bullish
- Sell: Phase B (HP)
- Long: Phase C (LP)
2.
- Swing turned Bearish signaling the probability that the 4H Pullback is maybe over and we may resume the 4H Bearish continuation move.
- Currently price at a 15m/4H Supply zones that could initiate the Swing continuation phase.
- Possible Phase B Shorts but be mindful that the 4H INT Structure still Bullish and we may see another deep Swing pullback which will reflect on a Bullish 15m Swing BOS.
3.
- 15m Demand within the INT Structure as it could provide a Low Probability Long Phase C trade.
