EURUSD 12 Feb 2024 W7 - Intraday Analysis

This is my Intraday analysis on EURUSD for 12 Feb 2024 W7 based on Smart Money Concept (SMC) which includes the following Time Frames:

• 4H
  
• 15m
  

4H Chart Analysis


1.

• Swing Bullish
  
• INT Bearish
  
• OF Bearish
  
• In Swing Discount / Possible LiQ Sweep
  

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.

• Bearish momentum still active with a Bearish iBOS.
  
• With the current series of bearish INT Structures, there is a HP that the 4H Swing Low will go as there is no much demand zones and the current demand is fully mitigated and every move up is just a sell opportunity.
  
• After the iBOS we would expect a pullback. Price failed to close below the 4H Low which could be a sweep of LIQ.
  
• As per previous days analysis, i was waiting to see at least a bullish CHoCH in order to see a possibility of a Pullback of the 4H Bearish iBOS and the 4H Swing is still Holding.
  
• From the Fractal CHoCHs happening after Sweeping the LiQ below the 4H Swing Low showing that demand in control.
  
• We are currently in the Pullback Phase of the Bearish iBOS and expectations to continue Bullish till the INT Structure EQ and maybe extending to the INT Extreme Supply.
  

15m Chart Analysis


1.

• Swing Bearish
  
• INT Bullish
  
• Pullback Phase
  

2.

• INT Structure turned Bullish with iBOS confirming that the 15m Swing Pullback started as expected and we may have a deeper pullback.
  
• After iBOS we expect a pullback which already started after a Bearish CHoCH.
  
• As we didn't reach the Swing EQ or any HP POI we will have still the probability to continue up to maybe the 4H Supply Zone.
  

3.

• As long we we respect the Bullish INT structure we are good to go up.
  
• Once we have the Bearish iBOS, the narrative will be that the 15m Swing pullback is over and we will be looking to target the Weak Swing Low.