This is my Intraday analysis on EURUSD for 15 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:
NOTE : No much development in price since NFP (2 Weeks). Can't see suitable option within that range knowing that it's a big range. But best is always wait for the setups that you are trained on and not to force a setup in current market behavior.
4H Chart Analysis
1.
2.
3.
15m Chart Analysis
1.
2.
3.
- 4H
- 15m
NOTE : No much development in price since NFP (2 Weeks). Can't see suitable option within that range knowing that it's a big range. But best is always wait for the setups that you are trained on and not to force a setup in current market behavior.
4H Chart Analysis
1.
- Swing Bullish
- INT Bullish
- Reached EQ
2.
- Price made a bullish BOS and after a BOS we expect a pullback.
- After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH.
- Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs.
- Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme.
- With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If demand fails i would expect price continuing to the Swing extreme.
Lets wait for LTF confirmations and price development.
3.
- Swing extreme demand for possible continuation to the upside.
15m Chart Analysis
1.
- Swing Bullish
- Internal Bullish
- At Swing Extreme Low
2.
- INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme.
- The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone.
- This demand is mitigated now and we are currently ranging.
3.
- It's clear now that after NFP and CPI the market is in indecision phase and needs a catalyst to get out of the range.
- For me price still Bullish until we have a Bearish Swing (Solid close below Swing Low)
- I'll be waiting for more price development outside the range we are currently in.
