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EURUSD 28 Nov 2023 Intraday Analysis

This is my Intraday analysis on EURUSD for 28 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. 4H
  2. 15m

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.

15m Chart Analysis

1.

  • Swing Bullish
  • Internal Bullish

2.

  • INT Structure continuing bullish following the 15m Swing bullish structure and our expectations is to reach the Swing high and most probably we will take it out.

3.

  • Price still moving to the upside but i can see there is no momentum.
  • So my expectations that we can see a break of the INT/Swing High, mitigate the 4H/Daily Supply and then we can start a pullback.
  • There is no confirmation yet for the shorts, So most probably will wait for at least a bearish iBOS.

Nov 28, 2023

Comment:

Minor update to the 15m Chart (Highlighted Demand zones within the INT Structure)

15m Chart:

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/mtURKo53-EURUSD-28-Nov-2023-Intraday-Analysis/

I’m Amr

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