EURUSD 7 Dec 2023 Intraday Analysis -EUR GDP / US Jobless Claims

This is my Intraday analysis on EURUSD for 7 Dec 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

• 4H
  
• 15m
  

4H Chart Analysis

1.

• Swing Bullish
  
• INT Bearish
  
• Reached EQ
  

2.

• Price had created a Bearish INT Structure and it could be targeting the 4H Demand within the Swing extreme.
  
• Currently price is in Swing pullback phase and the Bullish continuation could start at anytime from the Swing Discount. It's preferred to mitigate a Demand zone to give more confidence.
  
• Will be waiting for LTF (15m) to support the decision with bullish structure formation.
  

3.

• Swing low and last demand for potential buys.
  

15m Chart Analysis

1.

• Swing Bearish
  
• Internal Bearish
  

2.

• Price still in a series of bearish structures (Swing/Internal) as we didn't mitigate yet any HTF POI.
  
• We formed Swing Low yesterday after a Bullish iBOS but it didn't hold for a pullback phase.
  
• My expectations is price may continue down to a HTF POI and we can see after a change to a bullish structure to confirm that the 4H Swing pullback is over and we may continue the Bullish Swing.
  
• Currently Shorts is the play with the current Bearish Swing from Supply zones that are well positioned in Premium.
  
• For Longs, i'll wait for the mitigation of a HTF Demand zone or the 15m Swing/Internal turn bullish.
  

コメント:

This is the long trade I took yesterday which ended in Loss.

It was based on the idea of a pullback with the confluence of DXY but it didn't work as expected. Trade closed after closing below the Structure (Swing Low) which invalidates the long idea.

15m Chart: