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EURUSD 6 – 10 Nov 2023 Weekly Analysis

This is my Weekly analysis on EURUSD for 6 – 10 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 nice reaction that the pullback of the internal bearish structure maybe starting but still the OF is bearish
  • Last week we had bounced nicely continuing the pullback after the iBOS and we are currently approaching a Weekly Supply/Flip Zone.

3.

  • Potential flip supply zone to continue the INT bearish structure and Swing bearish leg
  • But be mindful that the INT structure doesn’t have IDM and the zone/CHoCH could be used as IDM and we will be in the Swing Discount

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

2.

  • After BOS we expect a pullback
  • CHoCH will be the first sign of maybe pullback is starting, price did a CHoCH confirming INT Low formation.
  • OF turned bullish to facilitate the Swing pullback and most probably we will continue bullish till we sweep Liq on the lift which reside below the Weekly and Daily Supply zones before we see bearish continuation.

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.
  • Let’s watch LTF to guide us for potential shorts.

4H Chart Analysis


1.

  • Bullish Swing
  • Bullish INT

2.

  • As expected, price continued bullish and did a bullish BOS after sweeping the Liq from the previous Swing lows.
  • After a BOS we expect a pullback, but be mindful that all TFs are bullish in Structure or OF so most probably that bullishness will continue.
  • Will be looking for pullback to start once we tap into the Weekly/ 4H Supply zones that is price is approaching currently.
  • Will wait for LTFs to guide for maybe the Swing pullback is starting.

3.

  • 4H Demand zone could hold the price to continue up after sweeping liquidity on the left.

Economic Events for the Week

Link to Tradingview Post: https://www.tradingview.com/chart/EURUSD/TDH1jeQF-EURUSD-6-10-Nov-2023-Weekly-Analysis/

I’m Amr

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