EURUSD 29 Apr 2024 W18 - Intraday Analysis - GER CPI

29 thg 4

This is my Intraday analysis on EURUSD for 29 April 2024 W18 based on Smart Money Concept (SMC) which includes the following:

1. Market Sentiment
   
2. 4H Chart Analysis
   
3. 15m Chart Analysis
   

Market Sentiment

No major economic data releases are scheduled for Monday, limiting significant movement in the pair. However, the intervention in JPY leading to a USD weakness which will provide support for EURUSD some Bullish stand.

Also note that the current week includes EU CPI and US FOMC / NFP which most probably result in a volatility and investors are positioning for that upcoming news events.


4H Chart Analysis

https://www.tradingview.com/x/g8G7SPL5/

1.

• Swing Bearish
  
• Internal Bearish
  
• Sub-Internal Bullish
  
• INT / 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. Price tapped into the Weekly demand and initiated the Swing Pullback Phase.
  
• With the Bullish OF and as expected price reached the 4H supply with possible reaction from there.
  

4.

• With Sub-INT / OF is holding Bullish, I Still see more upside as long we hold the recent Sub-INT Low (Green Line).
  
• A break of the Sub-INT Low, this will confirm that the Pullback Phase maybe is over and we will continue down targeting the INT Low. On the other side if the Sub-INT Structure will stay Bullish, there is a HP we are targeting the mitigation of the Daily Supply.
  
• More Price development from Intraday analysis to confirm a scenario.
  

15m Chart Analysis

https://www.tradingview.com/x/gK5oO7hr/

1.

• Swing Bearish
  
• Internal Bullish
  
• Sell: Phase B (HP)
  
• Long: Phase C (LP)
  

2.

• Swing turned Bearish signaling the probability that the 4H Pullback is maybe over and we may resume the 4H Bearish continuation move.
  
• Currently price at a 15m/4H Supply zones that could initiate the Swing continuation phase.
  
• Possible Phase B Shorts but be mindful that the 4H INT Structure still Bullish and we may see another deep Swing pullback which will reflect on a Bullish 15m Swing BOS.
  

3.

• 15m Demand within the INT Structure as it could provide a Low Probability Long Phase C trade.