This is my Weekly analysis on EURUSD for 127 Nov – 1 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 by not fully closing the candle above. Still it could be a sweep of liq if we started to see pushes to the down side and structure changes on TF lower than the Weekly TF.
  • Price could be targeting the Supply zone at the INT Structure High to continue bearish as long TFs lower supports that.

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
  • Reached EQ

2.

  • After BOS we expect a pullback
  • OF turned bullish to facilitate the Swing pullback and we reached the INT bearish Structure Extreme.

3.

  • Weekly/Daily supply zone and the extreme of the bearish INT Structure where price swept the Liq above and created a Bullish CHoCH on the Weekly TF.
  • As price currently didn’t close above the INT High, there is a probability that this could be a Sweep of LIq to continue down.
  • To Confirm that Sweep concept we want to see at least a Bearish CHoCH which will be a Break of Structure on 4H which will support the concept and with that we can play Shorts.
  • But also be mindful that OF is in Strong bullish move and playing against it without confirmation will be rough.
  • Let’s watch LTF to guide us.

4H Chart Analysis

1.

  • Swing Bullish
  • INT Bullish

2.

  • Swing low and last demand for potential buys.

3.

  • After the Swing BOS, we expected a pullback but price still in Bullish momentum and still creating Bullish INT Structures. We didn’t have Swing pullback till now which will be identified by a Bearish iBOS.
  • Price reached the extreme of the Bullish INT Structure and we may react only from there as our expectations is to reach (And maybe extend above) the Weak INT HIgh. So the current supply there may provide some bearish reaction, but our expectations on the 4H TF is to continue up.
  • But keep in mind that the bearish scenario we have from the Weekly and Daily could be starting from this area or a bit higher. In all ways, bearish scenario will be confirmed with bearish structure formation which we don’t have till now.
  • So patience is always the key of success! plan and wait for confirmation.

Economic Events for the Week

Nov 27, 2023

Comment:

Don’t know why the Economic Events link didn’t show, but here is the list.

Economic Events for the Week :

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/j4Xa10CX-EURUSD-27-Nov-1-Dec-2023-Weekly-Analysis-Inflation-US-EUR/

I’m Amr

Passionate about the art of trading, I embark on a journey documenting experiences, insights, and growth, where every entry is a step in my journey. Step into my world where dedication meets strategy.

Let’s connect

June 2024
S M T W T F S
 1
2345678
9101112131415
16171819202122
23242526272829
30  

ADP AUDUSD BTC Consumer Confidence CPI CPI Revisions Durable Goods DXY ECB ECB Meeting Minutes education EUR EURUSD FOMC GBPUSD GDP GOLD Home Sales Housing HTF IFO Industrial Production Interest Rate Intraday Jobless Claims Liquidity LTF Markups NASDAQ NFP PCE PMI Powell PPI Retail Sales Safe Haven Smart Money Concept SMC Structure Trade Balance USD USDJPY Weekly XAUUSD ZEW