Amr-Sadek

EURUSD 17 Apr 2024 W16 - Intraday Analysis - EU CPI

FOREXCOM:EURUSD   Euro / U.S. Dollar
This is my Intraday analysis on EURUSD for 17 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m


4H Chart Analysis


1.

  • Swing Bearish
  • Internal Bearish
  • 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. Currently price within the Weekly Demand and approaching a 4H/Daily demand zone.
  • Possibly that PB Phase could start at anytime with at least a Bullish CHoCH but preferably mitigating a HP POI.
  • Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.



15m Chart Analysis


1.

  • Swing Bearish
  • Internal Bullish
  • Swing Pullback Phase

2.

  • After BOS we expected a pullback. INT Structure turned Bullish to initiate the 15m Swing Pullback.

3.

  • As price reached the 15m Swing Premium and mitigated the 1H/15m Supply, Price initiated the Swing Bearish continuation and INT Structure Pullback.
  • Price reached the Swing Low and failed to break. So current PA is ranging.
  • I'll wait for Bullish BOS to confirm that the 4H Swing PB started instead of following the Shorts which could end at anytime.