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:

1. 4H
   
2. 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.