This is my Weekly analysis on EURUSD for 30 Oct – 3 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:
- Weekly
- Daily
- 4H
- Economic Events
- Swing Bearish
- Internal Bearish
- Reached Swing EQ
2.
- After the iBOS we expect pullback, price tapped into Liq and a demand zone which showed a nice reaction that the pullback of the internal bearish structure maybe starting but still the OF is bearish.
3.
- Potential flip supply zone to continue the INT bearish structure and Swing bearish leg
- But be mindful that the INT structure doesn’t have IDM and the zone/CHoCH could be used as IDM and we will be in the Swing Discount.
4.
- Extreme supply within the bearish INT structure with Liq below it. A potential zone located in the Swing premium for continuation down.
- Swing Bearish
- INT Bearish
2.
- After BOS we expect a pullback
- CHoCH will be the first sign of maybe pullback is starting, price did a CHoCH confirming INT Low formation.
- OF still bearish after reaching the daily flip zone. Expectation is that we will continue the bearish OF but be mindful that the pullback will start at anytime.
- Bullish Swing
- Bullish INT
2.
- Price made a Bullish Swing BOS and we expecting after a break of structure a Swing pullback and a CHoCH is the first sign that the Swing pullback maybe starting.
- Price pulled back to almost to the swing extreme and we would expect the 4H swing low to hold and we will target the weak Swing High.
3.
- 4H extreme demand is the last zone for price to mitigate if it failed at current price to continue up.
- This is the last option for longs for the current bullish swing.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/tHCFV6VC-EURUSD-30-Oct-3-Nov-2023-Weekly-Analysis-FOMC-NFP-Week/