EURUSD 8 Mar 2024 W10 - Intraday Analysis - NFP Day!

This is my Intraday analysis on EURUSD for 8 Mar 2024 W10 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
  

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.

• 4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
  
• After iBOS we expect a pullback and the possible POI to maybe start the Pullback is the 4H Supply above the Swing EQ.
  
• But be mindful that we were ranging for a period of time and price just broke that range with momentum. Most probably we will have a deep pullback phase to the daily supply before we can initiate the 4H Bearish continuation phase.
  
• Keeping my bullish bias till i see solid evidence with 4H bearish break of structure to confirm the 4H Continuation phase is starting.
  

15m Chart Analysis

1.

• Swing Bullish
  
• INT Bullish
  
• Swing/Internal Pullback Back Phase
  

2.

• Price continuing bullish with Bullish Swing BOS formation.
  
• We had reached the 4H supply and we'd fully mitigated it which could provide bearish pressure to initiate the 15m Swing Pullback.
  
• But be mindful that 15m Swing and 4H Internal Structures are solidly Bullish and we there is a HP we will continue up to mitigate the Daily/Weekly Supply.
  
• Still on my Bullish Bias. Shorts will be in play once we have confirmed 15m Bearish BOS. Risky shorts will be with 15m Bearish iBOS.
  

3.

• Swing Discount Zone and the last 15m/4H demand zone for potential reaction/longs when reached.
  

Comment:

Update and refinement on the 15m Chart: