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:
Weekly
Daily
4H
Economic Events
Weekly Chart Analysis
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
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
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.