EURUSD 15 Apr 2024 W16 - Intraday Analysis - US Retail Sales

This is my Intraday analysis on EURUSD for 15 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis


1.

• Swing Bearish
  
• Internal Bearish
  
• 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 at a 4H Demand Zone.
  
• Possibly that PB Phase could start from here and the first weak confirmation would be a Bullish CHoCH.
  
• Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.
  

15m Chart Analysis


1.

• Swing Bearish
  
• Internal Bullish - Pullback Phase
  

2.

• After the Bearish iBOS, price continued bearish till the 4H Demand.
  
• With the mitigation of the 4H Demand we formed a Bullish iBOS which confirmed the Swing Low and the initiation of the 15m Swing Pullback Phase.
  
• Expectations is set for price to continue bullish to facilitate the PB till a HP 4H Supply Zone.
  

3.

• 4H Supply zone for possible Shorts.
  
• Be mindful that the 4H supply is having Liq above it so there is a HP that this supply will fail to sweep the Liq above.