EURUSD 18 Apr 2024 W16 - Intraday Analysis - US Jobless Claims

This is my Intraday analysis on EURUSD for 18 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
  
• Swing 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 approaching a 4H/Daily demand zone.
  
• As expected the PB started after the Bullish CHoCH forming a new Demand Zone and confirming the Bearish INT Structure Low.
  
• Expectations is set for continuing Bullish till a HP POI.
  

4.

• 4H Supply zone for possible reactions. But note that it's not well positioned within the 4H Swing (In Discount) so there is a probability that it will get run till the Swing EQ/Daily Supply zone.
  

15m Chart Analysis


1.

• Swing Bullish
  
• Internal Bullish
  
• Swing Pullback Phase
  

2.

• As expected, price created a Bullish BOS based on the 4H/Daily need for a Pullback.
  
• After a BOS we expect a PB. As INT structure is Bullish, a Bearish iBOS will be the confirmation that the 15m Swing PB is starting. But be mindful that price in a Bullish momentum and a deep Swing PB is not often happen on the start of the move.
  
• Following the Bullish Phase we are in, looking for longs is the best option till the mitigation of the close 4H Supply zone.
  

3.

• Extreme Demand zone within the 15m Swing for possible Longs if reached.
  
• But be mindful if we reached this Demand, PA is not looking in Bullish momentum and there will be a HP that the Swing low will be run.