EURUSD 1 Mar 2024 W9 - Intraday Analysis - EU PMI/CPI - US PMI

This is my Intraday analysis on EURUSD for 1 Mar 2024 W9 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

NOTE: Nothing changed again from yesterday, 4H no changes and 15m just within the INT to INT Structure.


4H Chart Analysis


1.

• Swing Bearish
  
• INT Bullish
  
• Swing Pullback Phase
  

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.
  

3.

• After Bullish iBOS confirming Swing Pullback Phase started, We are expecting INT Pullback.
  
• Price reached the 4H Supply as expected and showed solid reaction from there. This reaction is starting the Bullish INT Structure Pullback.
  
• We didn't do a Bearish CHoCH to confirm INT High yet. So, there is a probability that price could tap into the CHoCH.
  
• Also we tapped into a Daily Demand (Not a HP zone) which is currently containing price.
  
• As the 4H Swing is bearish, the Swing pullback could be done after reaching the 4H Supply, Bearish CHoCH will be the initial weak conformation and a Bearish iBOS will be the solid confirmation for that scenario.
  
• Other scenario is a deeper Swing Pullback and 4H INT will stay Bullish to facilitate that view.
  

15m Chart Analysis


1.

• Swing Bullish
  
• INT Bullish
  
• INT INT Bearish
  
• INT Continuation Phase
  

2.

• Swing turned bullish to facilitate the 4H Swing Pullback.
  
• After BOS we expect a pullback. Price reached the 4H Supply as expected and from there started the 15m INT Structure Pullback.
  
• With the ranging behavior of price we created INT to INT Structure which turned bearish and currently challenging to maybe targeting the INT Structure Pullback low (ii Low @ 1.0803).
  
• Price is currently bearish within the Bullish INT/Swing structure. Expectations was set to target the INT to INT Structure and we did that yesterday.
  
• With the current price behavior, i'm expecting price to challenge the INT Structure Low which will confirm 15m Swing High and possible continuation bearish to continue the 4H Bearish INT Structure.