EURUSD 5 Mar 2024 W10 - Intraday Analysis - EU PMI/PPI - US PMI
This is my Intraday analysis on EURUSD
EURUSD
for 5 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames:
Note:Nothing changed since yesterday except 15m Sub INT turned Bullish aligning with 15m INT and Swing Bullish
4H Chart Analysis
1.
2.
3.
15m Chart Analysis
1.
2.
3.
EURUSD
for 5 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames: - 4H
- 15m
Note:Nothing changed since yesterday except 15m Sub INT turned Bullish aligning with 15m INT and Swing Bullish
4H Chart Analysis
1.
- Swing Bearish
- INT Bullish
- 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.
- After Bullish iBOS confirming Swing Pullback Phase started, We are expecting INT Pullback.
- Price reached the 4H Supply as expected and showed solid reaction from there. This reaction is starting the Bullish INT Structure Pullback.
- We didn't do a Bearish CHoCH to confirm INT High yet. So, there is a probability that price could tap into the CHoCH.
- Also we tapped into a Daily Demand (Not a HP zone) which is currently containing price.
- As the 4H Swing is bearish, the Swing pullback could be over after reaching the 4H Supply, Bearish CHoCH will be the initial weak conformation and a Bearish iBOS will be the solid confirmation for that scenario.
- Other scenario is a deeper Swing Pullback and 4H INT will stay Bullish to facilitate that view.
15m Chart Analysis
1.
- Swing Bullish
- INT Bullish
- INT INT Bullish
- INT Continuation Phase
2.
- Swing turned bullish to facilitate the 4H Swing Pullback.
- INT Structure still holding bullish adding to the expectation that the 4H Pullback is going to be deeper which will require the 15m to stay bullish.
3.
- As we had a long period ranging within the INT Structure. We had formed Sub Internal Structure which is currently bearish.
- The Sub Internal Structure failed to continue bearish several times and there is a High Probability that we are currently targeting the Sub Structure High (Green Line) to continue the Bullish INT Structure and target the Weak INT High.
- Overall price is ranging and no momentum in the market.
