Amr-Sadek

EURUSD 15 Apr 2024 W16 - Intraday Analysis - US Retail Sales

FOREXCOM:EURUSD   Euro / U.S. Dollar
This is my Intraday analysis on EURUSD for 15 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 at a 4H Demand Zone.
  • Possibly that PB Phase could start from here and the first weak confirmation would be a Bullish CHoCH.
  • 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 - Pullback Phase

2.

  • After the Bearish iBOS, price continued bearish till the 4H Demand.
  • With the mitigation of the 4H Demand we formed a Bullish iBOS which confirmed the Swing Low and the initiation of the 15m Swing Pullback Phase.
  • Expectations is set for price to continue bullish to facilitate the PB till a HP 4H Supply Zone.

3.

  • 4H Supply zone for possible Shorts.
  • Be mindful that the 4H supply is having Liq above it so there is a HP that this supply will fail to sweep the Liq above.