This is my Weekly analysis on EURUSD for 18 – 22 Dec 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. Weekly
  2. Daily
  3. 4H
  4. Economic Events

Weekly Chart Analysis


1.

  • Swing Bearish
  • Internal Bearish
  • Reached Swing EQ

2.

  • After the iBOS we expected pullback, price tapped into Liq on the lift and a Weekly demand zone which provided a pullback and formed a bullish CHoCH confirming INT Low.

3.

  • Price had fully mitigated the weekly supply (FLIP Zone and swept the Liq above the zone.
  • Expectations are set now that we are targeting the Weak INT Low following the Bearish INT Structure.
  • Price is approaching a weekly demand area which can provide a reaction.

4.

  • Extreme supply within the bearish INT structure with Liq below it. A potential zone located in the Swing premium for continuation down

Daily Chart Analysis


1.

  • Swing Bearish
  • INT Bullish
  • OF Bearish
  • Reached EQ

2.

  • After BOS we expect a pullback
  • OF turned bullish to facilitate the Swing pullback and we formed bullish iBOS to confirm the Swing Low and the pullback.
  • With that pullback we formed Weekly and Daily demand zones which are potential for longs after confirmation on LTFs.

3.

  • After the Bullish iBOS we are expecting a pullback. First sign of the pullback maybe starting is a CHoCH which price did and confirmed INT High.
  • Price reached a daily demand zone where we have seen a solid reaction from to target the Weak INT High.
  • The mitigation of this daily demand zone could be the start of the Bullish continuation of the Daily INT Structure. But be mindful that the Daily Swing is Bearish, Reached the EQ and mitigated Daily/Weekly Supply zones, So we may have finished the Swing pullback and we are in the Swing bearish continuation to target the Weak Swing Low.

    Let’s watch LTF to guide us.

4H Chart Analysis


1.

  • Swing Bullish
  • INT Bullish
  • Reached EQ/Extreme

2.

  • INT structure turned bullish as expected and we are currently in 4H Swing continuation targeting the Weak Swing High and maybe more above.
  • After the iBOS we would expect a pullback but be mindful with the current solid bullish momentum and that we are currently Pro Swing and Pro Internal, pullbacks will not be deep so be patient and cautious and utilize LTF to guide you.

3.

  • Swing low and last demand for potential buys.

4.

  • Price is currently at the Daily/4H Supply zones and Weak Swing High.
  • Price had mitigated the Daily/4H Supply zones formed when we started the Swing Pullback.
  • Currently price at a 4H Demand zone and the Zone low is the current Liq which price could sweep and continue up again targeting the Weak Swing High.
  • As we are approaching the end of the year, better to observe the market and prepare yourself to the next year runs.

Economic Events for the Week

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/JBGja22N-EURUSD-18-22-Dec-2023-Weekly-Analysis-2-Weeks-for-2023-End/

I’m Amr

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