EURUSD 15-19 Apr 2024 W16 Weekly Analysis - Middle East Tension!

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:

1. Weekly
   
2. Daily
   
3. 4H
   
4. 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.
  

Economic Events for the Week