EURUSD 1 Feb 2024 W5 - Intraday Analysis - EU CPI - US PMI/Jobs
This is my Intraday analysis on EURUSD for 1 Feb 2024 W5 based on Smart Money Concept (SMC) which includes the following Time Frames:
4H Chart Analysis
1.
2.
3.
15m Chart Analysis
1.
2.
3.
- 4H
- 15m
4H Chart Analysis
1.
-
- Swing Bullish
- INT Bearish
- OF Bearish
- In Swing Discount
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 4H/Daily demand zones as expected after breaking the range and formed a Bullish INT Structure iBOS.
- This Bullish iBOS failed to continue Bullish and we changed to Bearish INT Structure which means that the Swing Pullback Phase is not over.
- We are also within the 4H Swing Demand/Discount so keep in mind that at anytime the Swing Continuation could start.
- More price development needed with the current PA.
3.
- As the INT Structure turned Bearish, we resumed again the Swing Pullback which in my opinion going to target the Swing Low.
- After iBOS we expect a Pullback, CHoCH is the first sign that the INT Structure Pullback is starting.
- Price made a ChoCH yesterday confirming the INT Low and a Sweep of Liq to continue the bearish INT Structure.
- Currently we are going to take this INT Low and there is a high probability that the Swing Low is the target after.
15m Chart Analysis
1.
- Swing Bearish
- INT Bearish
2.
- Swing is Bearish after mitigating a HTF Supply.
- After a BOS we expect a pullback, INT structure turned Bullish to facilitate the Swing Pullback where we reached the EQ.
- With the news yesterday price Swept Liq above the Strong Swing High and the 4H CHoCH to resume the move to the down side targeting the 15m Weak Swing Low.
- Most probably this Swing Low will be broken.
3.
- Currently price is in Bearish INT Structure and expectation that we will break the Swing Low.
- Just be mindful that Shorts now are not preferred as we are at the end of the move.
- Will wait to see if there is option for Pullback plays after the BOS or hold my hands this week for better opportunities next week.
