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Euro / U.S. Dollar

EURUSD 16-20 Oct 2023 Weekly Analysis

By Amr-Sadek
This is my Weekly analysis on EURUSD for 16-20 Oct 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. Weekly
  2. Daily
  3. 4H


Weekly
https://www.tradingview.com/x/GgAr09U2/
1.
  • Swing Bearish
  • Internal Bearish
  • Reached Swing EQ

2.
  • After the iBOS we expect pullback, price tapped into Liq 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

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
https://www.tradingview.com/x/w26Cv085/
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


Daily
https://www.tradingview.com/x/TbkzyGiZ/
1.
  • Swing Bullish
  • INT Bearish


1.
  • Swing Bullish
  • INT Bearish


2.
  • Price swept Liq from the previous INT low and broken and closed above the high forming another iBOS


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


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


5.
  • Price could be targeting the Liq. below the 4H previous INT Low above the 4H extreme demand zone for longs

analysisChart PatternsEUREURUSDHTFsmartmoneyconceptSMCswingTrend AnalysisUSDWeekly Charts
Amr-Sadek
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