EURUSD 26-1 Mar 2024 W9 Weekly Analysis - US PCE/GDP Week

25 feb

This is my Weekly analysis on EURUSD for 26-1 Mar 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

https://www.tradingview.com/x/ujK7DqmF/


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

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

1.

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

2.

• Within the Daily Bearish Swing we reached the Swing extreme area and mitigated a Weekly Supply zone and formed a bearish iBOS confirming the Swing Pullback is over and we are Pro Bearish Swing and starting the Continuation Phase targeting the Weak Swing Low.
  

3.

• After the iBOS we expect a Pullback.
  
• After mitigating the Daily Demand zone we formed a Bullish CHoCH which confirmed the INT Structure Pullback Phase started.
  
• Expectations is set now for the INT Structure Pullback Phase to continue to the INT EQ up to the Daily/Weekly Supply. But be mindful that the Swing continuation can continue at any time.
  
• There is no HP POI for Shorts up to the Daily/Weekly Supply Zones.
  
• IMO Price could continue up to sweep LIQ from the INT Momentum Phase that leaded to the iBOS before we continue down.
  

4.

• Daily and Weekly demand zones for reactions once reached.
  

4H Chart Analysis

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

1.

• Swing Bearish
  
• INT Bullish
  
• Swing 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.
  
• Price failed to continue the bearish move and as expected it changed bullish and created iBOS confirming Swing Low and Bearish Swing Pullback Phase started.
  

3.

• After Bullish iBOS confirming Swing Pullback Phase started, We are expecting INT Pullback.
  
• Price reached the 4H Supply as expected and showed solid reaction from there. This reaction is starting the Bullish INT Structure Pullback.
  
• We didn't do a Bearish CHoCH to confirm INT High yet. So, there is a probability that price could tap into the CHoCH.
  
• Also we tapped into a Daily Demand (Not a HP zone) which is currently containing price.
  
• As the 4H Swing is bearish, the Swing pullback could be done after reaching the 4H Supply, Bearish CHoCH will be the initial weak conformation and a Bearish iBOS will be the solid confirmation for that scenario.
  
• Other scenario is a deeper Swing Pullback and 4H INT will stay Bullish to facilitate that view.
  

Economic Events for the Week

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