EURUSD 5 Mar 2024 W10 - Intraday Analysis - EU PMI/PPI - US PMI

This is my Intraday analysis on EURUSD EURUSD for 5 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

Note:Nothing changed since yesterday except 15m Sub INT turned Bullish aligning with 15m INT and Swing Bullish

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 over 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 Bullish
  
• INT Continuation Phase
  

2.

• Swing turned bullish to facilitate the 4H Swing Pullback.
  
• INT Structure still holding bullish adding to the expectation that the 4H Pullback is going to be deeper which will require the 15m to stay bullish.
  

3.

• As we had a long period ranging within the INT Structure. We had formed Sub Internal Structure which is currently bearish.
  
• The Sub Internal Structure failed to continue bearish several times and there is a High Probability that we are currently targeting the Sub Structure High (Green Line) to continue the Bullish INT Structure and target the Weak INT High.
  
• Overall price is ranging and no momentum in the market.