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Euro / U.S. Dollar

EURUSD 18 Apr 2024 W16 - Intraday Analysis - US Jobless Claims

By Amr-Sadek
This is my Intraday analysis on EURUSD for 18 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m


4H Chart Analysis

https://www.tradingview.com/x/RousX823/

1.

  • Swing Bearish
  • Internal Bearish
  • Swing 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.
  • As expected the PB started after the Bullish CHoCH forming a new Demand Zone and confirming the Bearish INT Structure Low.
  • Expectations is set for continuing Bullish till a HP POI.


4.

  • 4H Supply zone for possible reactions. But note that it's not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.


15m Chart Analysis

https://www.tradingview.com/x/bLwJrZQF/

1.

  • Swing Bullish
  • Internal Bullish
  • Swing Pullback Phase


2.

  • As expected, price created a Bullish BOS based on the 4H/Daily need for a Pullback.
  • After a BOS we expect a PB. As INT structure is Bullish, a Bearish iBOS will be the confirmation that the 15m Swing PB is starting. But be mindful that price in a Bullish momentum and a deep Swing PB is not often happen on the start of the move.
  • Following the Bullish Phase we are in, looking for longs is the best option till the mitigation of the close 4H Supply zone.


3.

  • Extreme Demand zone within the 15m Swing for possible Longs if reached.
  • But be mindful if we reached this Demand, PA is not looking in Bullish momentum and there will be a HP that the Swing low will be run.

Chart PatternsEUREURUSDintradayliquidityLTFMultiple Time Frame AnalysissmartmoneyconceptSMCstructureSupply and DemandUSD
Amr-Sadek
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