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

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

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

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.
  

評論:

15m Chart for Frankfort Open:

評論:

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