EURUSD 16 Apr 2024 W16 - Intraday Analysis - EU ZEW / US Powell

This is my Intraday analysis on EURUSD for 16 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
  
• 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.
  
• Possibly that PB Phase could start at anytime with at least a Bullish CHoCH but preferably mitigating a HP POI.
  
• Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.
  

15m Chart Analysis


1.

• Swing Bearish
  
• Internal Bearish
  
• Pullback Phase
  

2.

• After BOS we expect a pullback. Bullish iBOS will be the first sign that Swing Pullback maybe starting.
  
• But as we didn't mitigate any HTF POI any PB could be limited.
  
• Also the 4H Swing requires a Pullback so there is a HP that the 15m will be run at least as a 4H CHoCH.