EURUSD 15-19 Apr 2024 W16 Weekly Analysis - Middle East Tension!

This is my Weekly analysis on EURUSD for 5-19 Apr 2024 W16 based on Smart Money Concept (SMC) which includes the following Time Frames:

  1. Weekly
  2. Daily
  3. 4H
  4. Economic Events



Weekly Chart Analysis

https://www.tradingview.com/x/ZNw6tOLI/

1.

  • Swing Bearish
  • Internal Bearish
  • Reached Swing EQ
  • Swing Continuation (Pro Swing + Pro Internal)


2.

  • After the Bearish iBOS we confirmed that the Swing Pullback is over and we will target the Weak Swing Low.


3.

  • Price had reached the Bearish INT Structure extreme and initiated the Bearish Internal Structure Continuation.
  • Expectation is to continue bearish and target he Weak INT Low.



Daily Chart Analysis

https://www.tradingview.com/x/4bkmTqNv/

1.

  • Swing Bearish
  • INT Bearish
  • Swing Continuation (Pro Swing + Pro Internal)


2.

  • Internal Structure continuing bearish following the Bearish Swing.


3.

  • After the Bearish iBOS we expect a pullback.
  • Currently price is within the Weekly Demand and swept Liq from the left.
  • Price could initiate a PB at anytime or after reaching the Daily Extreme Demand.
  • More price development required.


4.

  • Daily and Weekly demand zones for reactions to fulfill a Pullback Phase.


4H Chart Analysis

https://www.tradingview.com/x/euOONC6w/

1.

  • Swing Bearish
  • Internal Bearish
  • Pullback Phase

2.

  • Swing continuing bearish following the HTF Bearish Trend. Expectations is set for the Swing to stay bearish to fulfill the HTF targets.


3.

  • After a BOS we expect a Pullback. Currently price within the Weekly Demand and at a 4H Demand Zone.
  • Possibly that PB Phase could start from here and the first weak confirmation would be a Bullish CHoCH.
  • Following the HTF targets, there is a high probability that the Bearish OF will hold so shorts are possible for continuation bearish from 4H Supply zones.


Economic Events for the Week

https://www.tradingview.com/x/uYvTTZFa/
Chart PatternsEUREURUSDHTFliquidityMultiple Time Frame AnalysissmartmoneyconceptSMCstructureSupply and DemandUSDWeekly Charts

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