EURUSD 16 Feb 2024 W7 - Intraday Analysis - US PPI

This is my Intraday analysis on EURUSD for 16 Feb 2024 W7 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis


1.

• Swing Bearish
  
• INT Bearish
  
• INT 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.
  
• Also be mindful that there is also a pullback required for the 4H Swing so there is a HP if price going to stay bullish we will take the Strong INT High.
  
• Bullish iBOS will signal a Swing Pullback.
  

15m Chart Analysis


1.

• Swing Bearish
  
• INT Bullish
  
• Swing / INT Pullback Phase
  
• Swing Extreme
  

2.

• Price reached the last Supply and Extreme of the 15m Swing / 4H Supply and initiated the Bullish INT Structure Pullback after.
  
• As the Swing is Bearish, expectations is set to continue Bearish. INT to turn bearish will be the signal that the Swing Pullback is over.
  
• But also be mindful that the 4H Swing Pullback still required so there is a HP that we may take the 15m Swing High.
  

3.

• 15m/4H Demand zones that can provide only reaction and not a buy opportunity.