This is my Weekly analysis on EURUSD for 13 – 17 Nov 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 expect pullback, price tapped into Liq on the lift and a demand zone which showed a reaction that the pullback of the internal bearish structure maybe starting and now price is targeting the CHoCH and the liquidity areas.

3.

  • Price currently within a Weekly Supply (FLIP) Zone which could be the zone to continue down. But it’s not a high probability one as price didn’t sweep any liquidity after the Bearish iBOS and most probably this supply zone will fail and we will sweep the Liquidity above it to the next and extreme supply zone of the bearish INT Structure.

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 Bearish
  • OF Bullish

2.

  • After BOS we expect a pullback
  • OF turned bullish to facilitate the Swing pullback and most probably we will continue bullish till we sweep Liq on the lift above the INT High.

3.

  • Weekly/Daily supply zone and the extreme of the bearish INT Structure which could provide a short opportunity if we are going to react from these zone.
  • Be mindful that price OF is so bullish and most probably this INT high will fail as it will be the Liquidity on the Weekly and we could tap into the Daily supply above to start the pullback and maybe the bearish of Daily/Weekly structure.
  • Let’s watch LTF to guide us for potential shorts.

4H Chart Analysis


1.

  • Swing Bullish
  • INT Bullish

2.

  • Bullish Swing continuation happened as expected and we created a Bullish BOS.
  • After a BOS we are expecting a pullback and first sign will be a CHoCH.
  • We did a CHoCH but it was only a Sweep of Liquidity and even the 15m didn’t close below the Structure.

3.

  • After reaching the Daily/4H Supply, price started to show some reaction.
  • The CHoCH that happened just confirmed the INT High and it was only Sweep of Liquidity due to the aggressive bullish move.
  • Currently we have a Bullish iBOS and again we are expecting a Pullback which could start from the current 4H Supply or i prefer to Sweep the Liquidity above the Weekly supply and we will be starting a nice pullback to the 4H Swing and it could evolve to a Weekly / Daily bearish continuation.

Economic Events for the Week

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/PPvPv0s5-EURUSD-20-24-Nov-2023-Weekly-Analysis-FOMC-Week/

I’m Amr

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