This is my Weekly analysis on EURUSD for 5-19 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:
- Weekly
- Daily
- 4H
- Economic Events
1.
- Swing Bearish
- Internal Bearish
- Reached Swing EQ
- Swing Continuation (Pro Swing + Pro Internal)
2.
- After the Bearish iBOS we confirmed that the Swing Pullback is over and we will target the Weak Swing Low.
3.
- Price had reached the Bearish INT Structure extreme and initiated the Bearish Internal Structure Continuation.
- Expectation is to continue bearish and target he Weak INT Low.
1.
- Swing Bearish
- INT Bearish
- Swing Continuation (Pro Swing + Pro Internal)
2.
- Internal Structure continuing bearish following the Bearish Swing.
3.
- After the Bearish iBOS we expect a pullback.
- Currently price is within the Weekly Demand and swept Liq from the left.
- Price could initiate a PB at anytime or after reaching the Daily Extreme Demand.
- More price development required.
4.
- Daily and Weekly demand zones for reactions to fulfill a Pullback Phase.
1.
- Swing Bearish
- Internal Bearish
- Pullback Phase
2.
- Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.
3.
- After a BOS we expect a Pullback. Currently price within the Weekly Demand and at a 4H Demand Zone.
- Possibly that PB Phase could start from here and the first weak confirmation would be a Bullish CHoCH.
- Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.
Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/vb6qId9i-EURUSD-15-19-Apr-2024-W16-Weekly-Analysis-Middle-East-Tension/
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