EURUSD 8 Mar 2024 W10 - Intraday Analysis - NFP Day!This is my Intraday analysis on EURUSD for 8 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H
15m
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.
4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
After iBOS we expect a pullback and the possible POI to maybe start the Pullback is the 4H Supply above the Swing EQ.
But be mindful that we were ranging for a period of time and price just broke that range with momentum. Most probably we will have a deep pullback phase to the daily supply before we can initiate the 4H Bearish continuation phase.
Keeping my bullish bias till i see solid evidence with 4H bearish break of structure to confirm the 4H Continuation phase is starting.
15m Chart Analysis
1.
Swing Bullish
INT Bullish
Swing/Internal Pullback Back Phase
2.
Price continuing bullish with Bullish Swing BOS formation.
We had reached the 4H supply and we'd fully mitigated it which could provide bearish pressure to initiate the 15m Swing Pullback.
But be mindful that 15m Swing and 4H Internal Structures are solidly Bullish and we there is a HP we will continue up to mitigate the Daily/Weekly Supply.
Still on my Bullish Bias. Shorts will be in play once we have confirmed 15m Bearish BOS. Risky shorts will be with 15m Bearish iBOS.
3.
Swing Discount Zone and the last 15m/4H demand zone for potential reaction/longs when reached.
