EURUSD 7 Mar 2024 W10 - Intraday Analysis - EU Rate / US Jobless

This is my Intraday analysis on EURUSD for 7 Mar 2024 W10 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

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.

• 4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
  
• After iBOS we expect a pullback and the possible POI to maybe start the Pullback is the 4H Supply above the Swing EQ.
  
• But 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 Bullish
  
• INT Bullish
  

2.

• After a Swing BOS we expect a Pullback.
  
• INT structure is bullish and most probably will continue bullish after we broke the range.
  
• Once internal structure turned bearish we will start the Swing Pullback Phase.
  
• Expectation that we will continue bullish till the 4H Supply positioned above the 4H Swing EQ and maybe from there we will start the pullback.
  
• Shorts are not considered until we reach a HP HTF POI.
  

3.

• Swing Discount Zone and the last demand zone for potential reaction/longs when reached and depending on the situation.