EURUSD 19-23 Feb 2024 W8 Weekly Analysis - EU CPI/PMI Week

This is my Weekly analysis on EURUSD for 19-23 Feb 2024 W8 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
  
• (Pro Swing + Pro Internal)
  

2.

• After the Bearish 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.
  
• Price reached the INT Extreme and tapped the Weekly Supply Zone and as expected we are targeting at least the CHoCH and then the Weak INT Low.
  
• Price did the Bearish ChoCH and formed a fresh Supply zone which will be potential for shorts once reached to continue the Bearish INT structure and Swing too.
  

3.

• With the Bearish INT Structure we have the confirmation that the Swing Pullback is over and we are currently in the Swing Continuation Phase.
  
• Price had reached the Bearish INT Structure extreme and showed reaction from which resulted in a Bearish CHoCH.
  
• Expectation now set to see price continuing bearish.
  

Daily Chart Analysis


1.

• Swing Bearish
  
• INT Bearish
  
• Swing Continuation / INT Pullback
  

2.

• Within the Bearish Swing we are currently in the Swing pullback reached the Swing extreme area and mitigated a Weekly Supply zone (But didn't reach the Daily Supply) and started the INT Structure Pullback after the Bullish iBOS.
  
• For the Bearish Swing to continue bearish, we want to see a Bearish iBOS to confirm that the Swing Pullback is over and we are in the Swing Continuation to target the Weak Swing Low.
  
• Price confirmed a Bearish iBOS and this signals the Swing continuation phase.
  

3.

• After the iBOS we expect a Pullback.
  
• Price is currently within the Daily demand on the left which is partially mitigated and approaching a Weekly Demand Zone which could provide reaction to facilitate the Bearish INT Structure Pullback.
  
• Bullish CHoCH will confirm INT Low and INT Structure Pullback maybe starting.
  

4.

• Daily and Weekly demand zones for reactions once reached.
  

4H Chart Analysis


1.

• Swing Bearish
  
• INT Bearish
  
• INT Pullback Phase
  

2.

• After a BOS and iBOS we expect a Pullback.
  
• As expected after the Bullish CHoCH and mitigation of 4H/Daily Demand zones, we initiated the INT Structure Pullback.
  
• Price reached the 4H/Daily Supply and from there we could start the bearish continuation.
  
• Also be mindful that there is also a pullback required for the 4H Swing so there is a HP if price going to stay bullish we will take the Strong INT High.
  
• Bullish iBOS will signal a Swing Pullback.
  

Economic Events for the Week