EURUSD 18-22 Mar 2024 W12 Weekly Analysis – US Rates/FOMC

17 Mar

This is my Weekly analysis on EURUSD for 18-22 Mar 2024 W12 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/8gHU7XAo/

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/VgCqwj7M/

1.

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

2.

• After the Bearish iBOS we confirmed that the Swing Pullback is over and we are expecting price to target the Weak Swing Low.
  
• Also after iBOS we expected a pullback which we are currently in.
  

3.

• Price didn't reach a HP POI to continue down, but price seems to be reacting from the Liq on the left.
  
• In order for me to consider that the INT Structure Pullback is over, i need to see at least a Bearish CHoCH. So will be watching the Daily Demand Zone for possible continuation up to target he HP POI (Daily/Weekly Supply) or a Bearish CHoCH for me to start looking for Shorts to target the Weak INT Low.
  

4.

• Daily and Weekly demand zones for reactions once reached.
  

4H Chart Analysis

https://www.tradingview.com/x/O8vrBukj/

1.

• Swing Bearish
  
• INT Bullish / Continuation Phase
  
• 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.

• 4H Swing pullback phase still active with Internal Structure continuing bullish with a new iBOS.
  
• After iBOS we expect a pullback. Price had reached the INT Structure Demand zone and created a Bullish CHoCH which indicates that the INT Pullback maybe over and we are currently targeting the Weak INT High. after which price failed to target the Weak INT High.
  
• Current price indicate that we will have a deep 4H INT Pullback to maybe the 4H/Daily Demand zones before any continuation.
  

Economic Events for the Week

https://www.tradingview.com/x/hrP59BtY/