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Attachments: Weekly Top-Down Technical Analyses
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Weekly Top-Down Technical Analyses

  • #1,641
  • Jan 29, 2023 3:38pm Jan 29, 2023 3:38pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation has turned sideways. On the weekly time frame, it retested the 1.22900/1.24400 horizontal resistance zone (purple) two weeks ago but met bearish challenge. Last week, market operation printed an indecision candlestick in the zone but, technically, the impulse is still bullish.

Attached Image (click to enlarge)
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GBPUSD price action on the daily time frame turned sideways as it retests the 1.22900/1.24400 horizontal resistance zone (purple). We may have to await directional clarity, or momentum shift, upon Monday daily closing.

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GBPUSD price action on the H4 is in consolidation. The 1.22900/1.24400 area (purple) seems to be the major channel and coincides with the operating weekly horizontal resistance zone.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,642
  • Feb 5, 2023 1:20pm Feb 5, 2023 1:20pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation retested the 1907.360/1973.730 horizontal resistance zone (purple) in January but met bearish pushback.

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XAUUSD market operation on the weekly time frame retested the 1981.470/1938.32 supply zone (red) but met a bearish rejection. The zone is aligned with the 1907.360/1973.730 horizontal resistance zone seen on the monthly time frame. Last week’s bearish print was relatively big, and we can expect a bearish follow-up this week.

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XAUUSD price action on the daily time frame is bearish. Price action had retested the 1981.470/1938.32 weekly supply zone (red) but met a strong bearish challenge. Presently, price action has entered a daily demand zone, but we can still see further southward move to an area of value before bullish correction.

Attached Image (click to enlarge)
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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,643
  • Feb 5, 2023 1:56pm Feb 5, 2023 1:56pm
USDJPY Weekly Technical Outlook

USDJPY market operation retested the 126.100/131.500 monthly demand (blue) in January but met a bullish challenge. The candlestick printed in January was doji-like and had long shadows on both ends. The technical structure on the monthly time frame is bullish.

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USDJPY market structure on the weekly time frame made a bearish retest of the 126.100/131.500 horizontal support zone (blue) four weeks ago but was resisted by bulls. Last week’s bullish print is still within the zone but the technical impulse favours further bullish move.

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USDJPY price action on the daily time frame has broken above an area of consolidation after a bearish retest of the 126.100/131.500 horizontal support zone (blue) seen on the weekly time frame. We may see further northward move in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,644
  • Feb 5, 2023 3:03pm Feb 5, 2023 3:03pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation has been tackling the 1.21100/1.26170 monthly horizontal resistance zone (purple) since November 2022. The bullish candlestick printed in January has shadows on both ends, indicating that bears are still exerting pressure on bullish momentum.

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GBPUSD bullish market operation pushed into the lower boundary of the 1.26600/1.24040 weekly supply zone (red) but met a bearish pushback. Last week, market operation printed a relatively big bearish candlestick below the zone, and we may see further bearish follow-up this week.

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GBPUSD price action on the daily time frame is bearish. Last Friday saw a bearish follow-up on Thursday’s bearish print. Although, presently, price action is at a daily demand area, the technical impulse is bearish, and we may still see further southward move before a bullish correction.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,645
  • Feb 5, 2023 3:33pm Feb 5, 2023 3:33pm
EURUSD Weekly Technical Outlook

EURUSD market operation has declined in bullish momentum after three months of northward move that began in November 2022. Technically, on the monthly time frame, the market structure is bearish but there has been a bullish correction which appears to be stalling as market operation approaches the 1.15030/1.11000 monthly supply zone (purple).

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EURUSD market operation on the weekly time frame is experiencing increased bearish pressure as it retests the 1.08100/1.11000 horizontal resistance zone (red). Last week, market operation printed a bearish pinbar in the zone. Should there be a bearish follow-through, we may see a potential bearish rotation to an area of value.

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EURUSD price action on the daily time frame turned bearish after retesting the 1.08100/1.11000 major horizontal resistance zone (red) several times. The technical impulse favours further southward mode.

Attached Image (click to enlarge)
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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,646
  • Edited 1:55pm Feb 12, 2023 1:36pm | Edited 1:55pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame made a bearish rejection of the 1938.320/1975.100 horizontal resistance zone (red) two weeks ago. However, as opposed to the relatively big bearish print of two weeks ago, last week’s print was doji-like and small. This indicates a pause in southward drive as the market operation tackles the 1865.370 horizontal support area.

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XAUUSD price action on the daily time frame turned sideways after a bearish displacement from the 1958.630/1921.190 daily supply (blue). A rising trendline (magenta) was broken down on Thursday, but we may still see a northward market engineering for liquidity grab before a southward rotation.

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XAUUSD price action on the H4 time frame turned sideways after breaking down a rising flag (magenta). We may still see a northward retest of an area of value before further bearish drive.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,647
  • Feb 12, 2023 2:05pm Feb 12, 2023 2:05pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame made a bearish retest of the 131.500/126.100 horizontal support zone (blue) five weeks ago. There was a bullish pullback for three weeks but there was little northward momentum and no northward breakout from the zone. Last week’s market operation printed a bearish candlestick with a prominent tail at the upper boundary of the zone, and we may still see a bearish retest of the zone.

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USDJPY price action on the daily time frame turned sideways after a bearish print on Tuesday at the upper boundary of the 131.500/126.100 horizontal support zone (blue) seen on the weekly time frame. The technical pattern favours further southward move.

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USDJPY price action on the H4 time frame is sideways. As the preceding technical structure is bearish, this may be liquidity engineering before a southward drive.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,648
  • Feb 12, 2023 2:39pm Feb 12, 2023 2:39pm
EURUSD Weekly Technical Outlook

The EURUSD market operation is in a bearish mode. On the weekly time frame, five weeks ago, market operation made a bullish retest of the 1.08100/1.10300 horizontal resistance zone (red) but went sideways for two weeks before making a bearish rejection of the zone two weeks ago. Last week produced a follow-up bearish candlestick. However, as market operation is presently at the 1.06800 horizontal support area, we may see some bullish challenge and a decline in bearish momentum.

Attached Image (click to enlarge)
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EURUSD price action on the daily time frame made a bearish rejection of the 1.08100/1.10300 horizontal resistance zone (red) several days ago. It is presently tackling the 1.06800 horizontal support area, and there is a decline in bearish momentum. We may still see a bullish pullback before further bearish drive.

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EURUSD price action on the H4 time frame is retesting the 1.06600/1.07000 demand zone (green). Presently, it is sideways within the zone after meeting some bullish challenge. We may see further bullish challenge, perhaps with a northward market engineering to an area of value before a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,649
  • Feb 12, 2023 3:02pm Feb 12, 2023 3:02pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation is presently sideways. On the weekly time frame, market operation made a bearish rejection of the 1.22600/1.24700 horizontal resistance zone (red) two weeks ago, but there was no bearish follow-up last week as last week’s candlestick was doji-like. Presently, market operation is located at the 1.20500 horizontal support area.

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GBPUSD price action is sideways on the daily time frame. It made a bearish rejection of the 1.22600/1.24700 horizontal resistance zone (red) seven days ago, but there was no bearish follow-through throughout last week. A bearish breakdown of the sideways may see a southward drive towards the 1.18700 handle (blue).

Attached Image (click to enlarge)
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GBPUSD price action on the H4 time frame has broken down a rising flag formation (magenta) in the context of a bearish technical impulse. Although we may still see a bullish pullback, bears are favoured to make a southward displacement to an area of value, such as the 1.18700 horizontal support area (blue).

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 14 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,650
  • Feb 14, 2023 3:40am Feb 14, 2023 3:40am
GBPUSD price action on the H4 time frame is issuing a bullish retest of the broken down rising flag (channel) and potentially the 1.22500/1.21830 H4 tf supply (black). A bearish shift within that confluence, which also aligns with the 50/61.8 Fib retracement of the 1.23950/1.19570 bearish trading range will pique my interest for a sell swing trade.

I may be wrong. Trade safe, prosper.

KP

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Quoting KeenPips
....GBPUSD price action on the H4 time frame has broken down a rising flag formation (magenta) in the context of a bearish technical impulse. Although we may still see a bullish pullback, bears are favoured to make a southward displacement to an area of value, such as the 1.18700 horizontal support area (blue). {image} I may be wrong. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #1,651
  • Feb 19, 2023 1:23pm Feb 19, 2023 1:23pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation is bearish. On the weekly time frame, a bearish displacement three weeks ago left behind the 1957.040/1901.600 supply zone (red). Last week’s bearish print broke below an area of consolidation, which indicates bears are still more influential in the market than bulls, but bulls are still resisting bearish momentum, which is indicated by the long bottom tail on last week’s candlestick.

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XAUSD price action on the daily time frame turned sideways as it tackles the 1851.95/1820.870 horizontal support (green). The technical impulse favours bears more than bulls but we may still see further northward move before a southward continuation.

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XAUUSD price action on the H4 time frame is in a bullish corrective move. Any further northward move would be temporary, giving way to a bearish rotation.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,652
  • Feb 19, 2023 1:43pm Feb 19, 2023 1:43pm
USDJPY Weekly Technical Outlook

USDJPY market operation is in a bullish mode. On the weekly time frame, last week, market operation printed a bullish candlestick that broke above the bearish print of two weeks ago. This created a demand zone at the 120.740/132.750 area (green).

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Although USDJPY is technically bullish, it is tackling a mini area of resistance on the daily time frame and presently sideways in the area. Further bullish drive would see a charge towards the 135.750/137.430 daily supply area (red).

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USDJPY price action on the H4 time frame is in a grinding bullish corrective move. This may see a bullish retest of the 135.750/137.430 daily supply area (red) before any significant bearish rotation.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,653
  • Feb 19, 2023 1:57pm Feb 19, 2023 1:57pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the weekly time frame went sideways after a bearish rejection of the 1.08100/.10300 horizontal resistance zone (red). Presently, market operation is tackling the 1.06900/1.06230 horizontal support zone (green).

Attached Image (click to enlarge)
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Following a bearish rejection of the 1.08100/.10300 horizontal resistance zone (red) seen on the weekly time frame, EURUSD price action on the daily time frame turned sideways. Presently, it is at the 1.06900/1.06230 horizontal support zone (green), and we may still see a northward market engineering in the early part of this week before further southward drive.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 13 KB


EURUSD price action on the H4 time frame is in a bullish corrective mode as it tackles the 1.06900/1.06230 horizontal support zone (green) seen on the daily time frame. We may still see further northward move before a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,654
  • Feb 19, 2023 2:11pm Feb 19, 2023 2:11pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation turned sideways on the weekly time frame after making a bearish rejection of the 1.22600/1.24700 horizontal resistance zone (red) three weeks ago. Although we cannot rule out a northward move, further southward drive would be towards the 1.18300 horizontal support area (green).

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 13 KB


GBPUSD price action on the daily time frame turned sideways after a bullish correction of the bearish drive from the 1.22600/1.24700 horizontal resistance zone (red) seen on the weekly time frame. We could still see some northward move, perhaps for liquidity grab, before further southward drive.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 13 KB


GBPUSD price action on the H4 time frame took on a bullish corrective mode after a bearish breakdown of a rising flag (magenta) in the context of a bearish momentum shift from the 1.22600/1.24700 horizontal resistance zone (red). Personally, I am bearish the GBPUSD, but, as a medium-term swing trader, I want to first see a bullish retest of an area of value, such as the 1.21460/1.22070 intra-day resistance area (blue), followed by a bearish momentum shift.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 14 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,655
  • Feb 26, 2023 1:42pm Feb 26, 2023 1:42pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame broke below the 1851.950/1820.870 horizontal support zone (green) last week. Further bearish drive would target the next significant support at the 1788.130 area (blue).

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XAUUSD price action on the daily time frame broke below the 1851.950/1820.870 horizontal support zone (green) on Friday. The area is part of a cluster of supports that include the 1788.130 area (blue). Should there be a bearish follow-through early this week, we may see the 1788.130 area (blue) exposed.

Attached Image (click to enlarge)
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XAUUSD price action on the H4 time frame is experiencing a slowdown in bearish momentum after breaking below the 1851.950/1820.870 horizontal support zone (green) on Friday. We may see a bullish pullback to an area of value before further bearish drive.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,656
  • Feb 26, 2023 2:17pm Feb 26, 2023 2:17pm
USDJPY Weekly Technical Outlook

USDJPY market operation is in a bullish mode. On the weekly time frame, last week, market operation printed a bullish continuation candlestick. Presently, market operation is tackling the 135.750/137.430 horizontal resistance zone (red), which is located at the 38.2/50 Fib zone of the prevailing bearish trading range.

Attached Image (click to enlarge)
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USDJPY price action on the daily time frame is making a bullish retest of the 135.750/137.430 horizontal resistance zone (red), seen on the weekly time frame. The zone is located at the 38.2/50 Fib zone of the prevailing bearish trading range on the weekly time frame. Nevertheless, looking left, recent technical patterns north of the current location of price action may incentivize northward liquidity engineering and we may still see further bullish move before a southward turnaround. I am short-term bullish, but medium-term bearish, USDJPY.

Attached Image (click to enlarge)
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USDJPY price action on the H4 time frame is bullish. Presently, it is tackling the 135.750/137.430 horizontal resistance zone (red), seen on the weekly time frame. But the technical impulse favours further northward move at least on a short-term basis.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 16 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,657
  • Feb 26, 2023 2:44pm Feb 26, 2023 2:44pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation is technically in a bearish mode but there is a decline in southward momentum. On the weekly time fame, last week’s bearish print was relatively small and market operation struggled to break down the area of consolidation which was in place for two weeks. Nevertheless, we cannot rule out a bearish dive to the 1.18300 horizontal support area (green), which is less than 80 pips below the present location of price action, before a strong bullish challenge. A northward move in the early part of this week would be temporary and would give way to a southward rotation.

Attached Image (click to enlarge)
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GBPUSD price action on the daily time frame is tackling a cluster of horizontal supports, and it is presently located at the 1.19300 area. Should there be a successful bearish follow-through in the early part of this week, we may see the 1.18300 horizontal support area (green) exposed.

Attached Image (click to enlarge)
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On Tuesday, GBPUSD price action on the H4 time frame made a 61.8 Fib retracement of the 1.22700/1.190130 bearish swing before heading southward for about 220 pips. Presently, there is a slowdown in bearish drive, and we may see a northward pullback to an area of value before further southward drive.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 15 KB
Do your homework, follow the footprints of smart money
  • #1,658
  • Feb 26, 2023 3:13pm Feb 26, 2023 3:13pm
EURUSD Weekly Technical Outlook

EURUSD market operation is technically bearish. On the weekly time frame, last week, it broke down the 1.06900/1.06060 horizontal support zone (green) which had been in place since early January, potentially turning it to resistance.

Attached Image (click to enlarge)
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EURUSD price action on the daily time frame is in a bearish mode. Price action broke down the 1.06900/1.06060 horizontal support zone (green) on Friday. Further bearish drive this week may initially target the next significant horizontal support around the 1.04500 area (blue). Nevertheless, we should expect some bullish corrective moves.

Attached Image (click to enlarge)
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There is a slowdown of EURUSD bearish drive on the H4 time frame after a bearish breakdown of the 1.06900/1.06060 horizontal support zone (green) seen on the weekly time frame. We may see a bullish correction before further bearish drive.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,659
  • Mar 5, 2023 1:35pm Mar 5, 2023 1:35pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the monthly time frame made a bullish retest of the 1967.860/1887.950 horizontal resistance zone (purple) in January but gave way to a bullish rejection in February. Pattern trader could detect an ‘M’ pattern consummated at the 1611.120/1551.190 horizontal support zone (blue). This may posit a technical push for at least a mid-line retest, favorable to bears in the longer term.

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Five weeks ago, market operation on the weekly time frame made a bearish rejection of the 1967.860/1887.950 horizontal resistance zone (purple) seen on the monthly time frame. There was a sideway of market operation thereafter which gave way to further bearish push. However, last week, market operation printed a relatively big bullish candlestick which broke above the top of the bearish print of two weeks ago. Thus, the short-term technical impulse favours bulls and we may see further northward move in the early part of this week. This may lead to a bullish retest of the 1967.860/1887.950 horizontal resistance zone (purple), or an area of value, before a bearish rotation since the larger technical structure is bearish.

Attached Image (click to enlarge)
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XAUUSD price action on the daily time frame is making a bullish correction of a technically bearish structure. As the short-term technical impulse favours bulls more than bears, we may see further northward move, perhaps to an area of value, before a southward turnaround. I am short-term bullish XAUUSD but medium/long-term bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,660
  • Mar 5, 2023 1:57pm Mar 5, 2023 1:57pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the monthly time frame is in a bullish technical structure. In February, it made a bullish rejection of the 126.00/131.200 monthly demand zone (green), a zone that aligns with the 61.8/78.6 zonal Fib of the 114.640/151.940 bullish swing.

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Seven weeks ago, USDJPY market operation on the weekly time frame made a 61.8/78.6 zonal fib retracement of the 114.640/151.940 bullish. It went sideways in the zone for quite a while before making a bullish push above it three weeks ago. Presently, market operation is sideways, the bearish print last week being relatively small and doji-like.

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USDJPY price action on the daily time frame is sideways within a bullish technical structure. We can expect further bullish drive; any southward move would be corrective in nature.

Attached Image (click to enlarge)
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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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