EURUSD 15 Jan 2024 W3 - Intraday Analysis - US Holiday

This is my Intraday analysis on EURUSD for 15 Jan 2024 W3 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

NOTE : No much development in price since NFP (2 Weeks). Can't see suitable option within that range knowing that it's a big range. But best is always wait for the setups that you are trained on and not to force a setup in current market behavior.


4H Chart Analysis

https://www.tradingview.com/x/2KTZHn5s/


1.

• Swing Bullish
  
• INT Bullish
  
• Reached EQ
  

2.

• Price made a bullish BOS and after a BOS we expect a pullback.
  
• After mitigating the Weekly Supply zone, price started the Swing pullback phase after a bearish CHoCH.
  
• Price reached the Swing EQ/Discount, mitigating 4H/Daily demand zones creating Bullish CHoCHs.
  
• Still the OF is bearish within the Swing Pullback phase and the current PA is ranging, but as it's the pullback phase we would expect a Swing bullish continuation from current area or from the Swing extreme.
  
• With the latest Bullish CHoCH, if the demand holds, we could see a Swing continuation to target the current INT High. If demand fails i would expect price continuing to the Swing extreme.
  Lets wait for LTF confirmations and price development.
  

3.

• Swing extreme demand for possible continuation to the upside.
  

15m Chart Analysis

https://www.tradingview.com/x/BGvW9BKz/


1.

• Swing Bullish
  
• Internal Bullish
  
• At Swing Extreme Low
  

2.

• INT structure turned Bullish after mitigating the 4H demand zones and reaching the 15m Swing extreme.
  
• The recent break (Fail to close below Swing Low) resulted with another iBOS and formed a 15m/4H Demand zone.
  
• This demand is mitigated now and we are currently ranging.
  

3.

• It's clear now that after NFP and CPI the market is in indecision phase and needs a catalyst to get out of the range.
  
• For me price still Bullish until we have a Bearish Swing (Solid close below Swing Low)
  
• I'll be waiting for more price development outside the range we are currently in.