EURUSD 21 Feb 2024 W8 - Intraday Analysis - EU Conf. US FOMC

This is my Intraday analysis on EURUSD for 21 Feb 2024 W8 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis


1.

• Swing Bearish
  
• INT Bullish
  
• Swing Pullback Phase
  

3.

• After Bullish iBOS confirming Swing Pullback Phase started, We are expecting INT Pullback.
  
• We are currently within a previous Daily Supply that is partially mitigated but with the current Bullish momentum an INT Pullback most probably will start from the 4H Supply/Swing EQ based on the LIQ on the left.
  

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.
  

15m Chart Analysis



1.

• Swing Bullish
  
• INT Bullish
  
• INT Pullback Phase
  

2.

• Swing turned bullish to facilitate the 4H Swing Pullback.
  
• After BOS we expect a pullback. No HTF POI price tapped into yet to start the pullback.
  
• Most probably price will continue bullish till the 4H Supply zone.
  
• Bearish iBOS will confirm 15m Swing High and Start of Swing Pullback.
  
• Continuing my bullish Bias on EURUSD till we reach the 4H Swing EQ/HP Supply zones.