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EURUSD 23-27 Oct 2023 Weekly Analysis

This is my Weekly analysis on EURUSD for 23-27 Oct 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.

  • Bullish Swing
  • Bearish INT

2.

  • INT Low is confirmed after a fractal CHoCH and we are now in the INT Bearish structure pullback phase.
  • Demand is holding and Supply is failing which means that the INT Pullback is still active and we may reach the INT Extreme Supply zone. But be mindful that the swing is bullish and we maybe targeting the Weak Swing high.

3.

  • Price made a Bullish Swing BOS and we expecting after a break of structure a Swing pullback
  • As price turned bearish, and reached EQ, our expectations now that Demand zones in Discount will provide a good opportunity for longs. And current PA is showing that demand zones are holding well and we are targeting the Weak Swing High.

4.

  • Daily and 4H Supply zone that current price action is targeting and could provide reaction for shorts opportunity using Entry Model with LTF confirmation

Daily Chart Analysis


1.

  • Swing Bearish
  • INT Bearish

2.

  • After BOS we expect a pullback
  • CHoCH will be the first sign of maybe pullback is starting and yesterday price did a CHoCH confirming INT Low formation.
  • OF still bearish so we don’t have confirmation yet that we are starting the pullback for the recent Bearish BOS

3.

  • As on the weekly, price swept Liq and tapped in a weekly demand zone but we didn’t mitigate the daily demand zone below

4H Chart Analysis


1.

  • Bullish Swing
  • Bearish INT

2.

  • INT Low is confirmed after a fractal CHoCH and we are now in the INT Bearish structure pullback phase.
  • Demand is holding and Supply is failing which means that the INT Pullback is still active and we may reach the INT Extreme Supply zone. But be mindful that the swing is bullish and we maybe targeting the Weak Swing high.

3.

  • Price made a Bullish Swing BOS and we expecting after a break of structure a Swing pullback
  • As price turned bearish, and reached EQ, our expectations now that Demand zones in Discount will provide a good opportunity for longs. And current PA is showing that demand zones are holding well and we are targeting the Weak Swing High.

4.

  • Daily and 4H Supply zone that current price action is targeting and could provide reaction for shorts opportunity using Entry Model with LTF confirmation

Economic Events for the Week

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/c1JKoJam-EURUSD-23-27-Oct-2023-Weekly-Analysis/

I’m Amr

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