EURUSD 26 Mar 2024 W13 - Intraday Analysis - US Durable Goods

This is my Intraday analysis on EURUSD for 26 Mar 2024 W13 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis


1.

• Swing Bearish
  
• INT Bullish / Continuation Phase
  
• Swing Pullback Phase
  

2.

• After a BOS and iBOS we expect a Pullback.
  
• As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
  
• Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
  
• Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.
  

3.

• 4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
  
• After iBOS we expect a pullback. Price had reached the INT Structure Demand zone and created a Bullish CHoCH which indicates that the INT Pullback maybe over and we are currently targeting the Weak INT High. after which price failed to target the Weak INT High.
  
• Current price indicate that we will have a deep 4H INT Pullback to maybe the 4H/Daily Demand zones before any continuation.
  

4.

• As expected, Price reached the 4H/Daily demand zone as referred to the deep INT Structure Pullback.
  
• Price created a Bullish CHoCH at the INT Structure Extreme which is a sign that the deep pullback may ended and we could be in the Bullish move to target the Weak INT High.
  
• More bullish price development on LTF is required to confirm the current expectations of continuation bullish.
  

15m Chart Analysis


1.

• Swing Bearish
  
• Internal Bearish
  
• Swing Continuation Phase
  

2.

• After the Bearish BOS we expect a Pullback.
  
• After mitigating the 15m/4H Demand zones, INT Structure turned Bullish confirming the Swing Low and the Swing Pullback Phase started.
  
• Expectations is set to for price to continue bullish till the Swing EQ/Premium to facilitate the Swing Pullback Phase.
  

3.

• Price reached the 4H Supply and initiated the INT Structure Pullback which was also a HP supply zone for Shorts to continue the Swing Bearish Move.
  
• INT Structure turned bearish aligning with the Bearish Swing for bearish continuation.
  
• Expectation is set to continue bearish to target the Weak Swing Low. But be mindful that the 4H still bullish and we are in the 4H INT Structure Discount/Extreme and maybe we will stay bullish. Bullish iBOS will confirm the bullish scenario.