EURUSD 17 Apr 2024 W16 - Intraday Analysis - EU CPI

This is my Intraday analysis on EURUSD for 17 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis


1.

• Swing Bearish
  
• Internal Bearish
  
• 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.
  
• Possibly that PB Phase could start at anytime with at least a Bullish CHoCH but preferably mitigating a HP POI.
  
• Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.
  

15m Chart Analysis


1.

• Swing Bearish
  
• Internal Bullish
  
• Swing Pullback Phase
  

2.

• After BOS we expected a pullback. INT Structure turned Bullish to initiate the 15m Swing Pullback.
  

3.

• As price reached the 15m Swing Premium and mitigated the 1H/15m Supply, Price initiated the Swing Bearish continuation and INT Structure Pullback.
  
• Price reached the Swing Low and failed to break. So current PA is ranging.
  
• I'll wait for Bullish BOS to confirm that the 4H Swing PB started instead of following the Shorts which could end at anytime.