EURUSD 29 Nov 2023 Intraday Analysis - EU CPI/US GDP, Bailey

29 nov 2023

This is my Intraday analysis on EURUSD for 29 Nov 2023 based on Smart Money Concept (SMC) which includes the following Time Frames:

1. 4H
   
2. 15m
   

4H Chart Analysis

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

1.

• Swing Bullish
  
• INT Bullish
  

2.

• Swing low and last demand for potential buys.
  

3.

• After the Swing BOS, we expected a pullback but price still in Bullish momentum and still creating Bullish INT Structures. We didn't have Swing pullback till now which will be identified by a Bearish iBOS.
  
• Price did another Bullish iBOS and reached a 4H Supply and mitigating a Daily Supply. We are expecting a pullback for the INT Structure and the first sign will be a bearish fractal CHoCH which will be the 15m Bearish iBOS.
  
• Be mindful that the Bullish momentum is so strong and shorts wouldn't be a smooth ride, So patience is always the key of success! plan and wait for confirmation.
  

15m Chart Analysis

https://www.tradingview.com/x/oojUk704/

1.

• Swing Bullish
  
• Internal Bullish
  

2.

• As expected, price created another Bullish BOS following the Bullish momentum. After a BOS we expect a Swing Pullback.
  
• The first sign that the pullback maybe starting is a Bearish Fractal CHoCH. But as we formed INT Structures after the BOS, then we will wait for INT Structure to turn bearish first to:
  1- Confirm a Swing High
  2- Confirm that the pullback is starting
  
• Be Mindful that the Bullish momentum is strong and shorts will not be a smooth ride.
  

3.

• Price is currently mitigating a 4H and Daily Supply Zones.
  
• Pullback could start from here, but as we identified in the previous point that we need a confirmation with a Bearish iBOS.
  
• Longs are currently the only play from the INT Demand areas after confirmation till INT Lows fails and we get the bearish iBOS.
  

29 nov 2023

Nota

15m Chart for Frankfort Open:

29 nov 2023

Nota

15m Chart for London Open: Watch the 4H Fractal CHoCH as it's the current Liquidity price is looking to take