EURUSD 19 Apr 2024 W16 - Intraday Analysis - Middle East Tension
This is my Intraday analysis on EURUSD for 19 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:
Prior to delving into the Intraday Analysis, I emphasized the significance of the ongoing Weekly Analysis, particularly in light of heightened tensions in the Middle East following Iran's strike on Israel. Monitoring these tensions and the subsequent reports from Israel regarding a response to Iran's strike, it's crucial to anticipate the potential for another volatile weekend, prompting investors to seek refuge in safe havens such as the US Dollar, GOLD, JPY, and CHF. Stay alert to any shifts towards safe havens today amid the uncertain situation in the Middle East leading into the weekend.
4H Chart Analysis
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15m Chart Analysis
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- 4H
- 15m
Prior to delving into the Intraday Analysis, I emphasized the significance of the ongoing Weekly Analysis, particularly in light of heightened tensions in the Middle East following Iran's strike on Israel. Monitoring these tensions and the subsequent reports from Israel regarding a response to Iran's strike, it's crucial to anticipate the potential for another volatile weekend, prompting investors to seek refuge in safe havens such as the US Dollar, GOLD, JPY, and CHF. Stay alert to any shifts towards safe havens today amid the uncertain situation in the Middle East leading into the weekend.
4H Chart Analysis
1.
- Swing Bearish
- Internal Bearish
- 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. Currently price within the Weekly Demand and approaching a 4H/Daily demand zone.
- With the Pullback Phase initiated after the Bullish CHoCH. Price had a deep PB to the 4H Demand formed with the Middle East Tension.
- Expectations is set to continue Bullish to facilitate the 4H Swing Pullback.
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- 4H Supply zone for possible reactions. But note that it's not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.
15m Chart Analysis
1.
- Swing Bullish
- Internal Bullish / Sub Internal Bearish
- Swing Continuation
2.
- After a BOS we expect a PB. INT Structure turned Bearish to facilitate the Swing Pullback.
3.
- With the tension in Middle East. Pulled back to the Swing extreme mitigating the last 15m Demand zone within the 4H Demand.
- Expectation is set to the 15m Swing Low to hold and target the Weak Swing High to facilitate the 4H Pullback Phase.
