EURUSD 12 Mar 2024 W11 - Intraday Analysis - US CPI Day!

This is my Intraday analysis on EURUSD for 12 Mar 2024 W11 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis


1.

• Swing Bearish
  
• INT Bullish / Pullback Phase
  
• 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 as expected price reached the supply zone above the Swing EQ, also sweeping the Liq above the Supply zone which could initiate an INT Pullback for the Bullish INT Structure.
  

4.

• 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 Bearish
  
• Swing Pullback Back Phase
  

2.

• 15m Swing continuing bearish after reaching the 4H Swing EQ.
  
• After the Swing BOS we expect a Pullback.
  
• There is a HP that the 4H swing pullback is over and we may continue the bearish Swing continuation. But be mindful that the 4H INT structure still bullish and this is just an Internal Pullback.
  
• Bullish Swing BOS will indicate that we still in the 4H Bearish Swing deep pullback and we will target the Weak 4H INT High.