Weekly Top-Down Technical Analyses | Page 30 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Major Pairs/Crosses - Trading Scenarios, Analyses & Forecasts 15 replies

Weekly/Monthly TOP Gainers Forexfactory Traders 4 replies

Long Term Analyses - EURUSD, GOLD, and S&P 76 replies

USD/CAD - Loonie Toons, & mostly pointless analyses 2 replies

Lazy analyses thread 56 replies

Attachments: Weekly Top-Down Technical Analyses
Exit Attachments

Weekly Top-Down Technical Analyses

  • #581
  • Feb 10, 2019 3:14pm Feb 10, 2019 3:14pm
XAUUSD Weekly Technical Outlook

The XAUUSD market is disposed northwards. On the weekly time frame, the pinbar printed last week favours a bullish continuation. The immediate horizontal resistance is around the 1358.00 area, an area that has held on a multi-year basis.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._10,_2019_W1.png Size: 49 KB


On the daily time frame, price action is respecting an ascending trendline traceable to November 2018; an ascending channel (red) appears to be in operation on the basis of the trendline. Technically, bulls are still favoured to take the market further northwards. However, we may see a brief pullback later in the week, particularly should price action hit the channel resistance or the minor horizontal resistance around the 1329.00 area.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._10,_2019_D1.png Size: 48 KB


I still hold a bullish bias on XAUUSD.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #582
  • Edited 3:35pm Feb 10, 2019 3:23pm | Edited 3:35pm
EURNZD Weekly Technical Outlook

The monthly time frame shows a EURNZD market predominantly bearish in disposition and presently operating in a descending channel (blue).

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Feb._10,_2019_MN.png Size: 48 KB


On the weekly time frame, six weeks ago, the market experienced a 68.2 Fib retracement of the down-leg from the high of September 2018 to the low of December 2018. However, there has not been much southward follow-through. Last week, bulls took price action further northwards. The 38.2 Fib retracement area is just a few pips northward and in confluence with the immediate horizontal resistance around 1.69940. Much likely, a southward turnaround can be expected in that area. The 1.61600 area is a horizontal support and may be a natural target of a southward move.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Feb._10,_2019_W1.png Size: 54 KB


Presently price action on the H4 time frame is in consolidation in a minor horizontal resistance area. But the technicals are slightly disposed for some northward move, perhaps to the immediate horizontal resistance around the 1.69100/1.69600 zone. As market does what it likes, we may see bulls take this drive to the 1.69900 area. Nothing will make me hazard trading the northward retracement as I expect a southward turnaround after a northward retracement to an area of value.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Feb._10,_2019_H4.png Size: 46 KB


While I am bearish on this market, I will step aside in the interim.


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #583
  • Feb 10, 2019 3:42pm Feb 10, 2019 3:42pm
GBPNZD Weekly Technical Outlook

The GBPNZD market is in a consolidation mode. On the weekly time frame, presently price action is located around a congestion area after a northward push resulting from the the formation of a morning star pattern nine weeks ago. Last week, a bullish candlestick was printed in opposition to the bearish print two weeks ago. The immediate resistance is around the 1.93980 area and may be a natural target of bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD_Feb._10,_2019_W1.png Size: 43 KB


In the context of a descending trend, price action on the daily time frame is presently operating in an ascending channel (red) and bulls are favoured to take the market further northwards, perhaps targeting the immediate horizontal resistance around 1.93980. Looking left, a similar pattern based on an earlier ascending channel (blue) could be seen. Technically, a northward move is still favoured but we are likely to see a southward turnaround soon, much likely before the end of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD_Feb._10,_2019_D1.png Size: 61 KB


On the H4 time frame, the massive doji print on January 3, 2019 seems to have mapped a span/range (bound in horizontal magenta lines) of operation for subsequent price action. Last week, price action tested the high of the doji-formation and retraced. A sideways operation took place thereafter and the candlestick print in the last session on Friday saw a northward move towards the high. We may see bulls follow up on the northward move in the early part of this week, and perhaps succeed in taking out the high of the doji-pattern, targeting the horizontal resistance around the 1.93980 area.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPNZD_Feb._10,_2019_H4.png Size: 59 KB


Technically, I will hold a bullish bias on this market in the short term. On a medium-term basis, I see a southward orientation of the GBPNZD market.


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #584
  • Feb 10, 2019 3:50pm Feb 10, 2019 3:50pm
EURJPY Weekly Technical Outlook

The technicals on the weekly time frame of the EURJPY market are in favour of bears. However, a support trendline (red) traceable to July 2012 is still holding after a temporary breach by the recent flash crash. Presently, price action has formed a mini consolidation channel (black) heading northwards. Technically, this has the potential to favour bears but there is little southward momentum presently. Much likely, we may see a further sideways operation of price action in the early part of this week or even a brief northward move before a southward drive. The 125.125/126.520 area is a horizontal resistance zone and may be amenable to a role flip.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Feb._10,_2019_W1.png Size: 55 KB


The most recent price action is in sideways operation on the daily time frame, equivalent to the consolidation channel (black) seen on the weekly time frame. The technicals are ambivalent and we may see some sideways operation in the market or even a northward pullback. Much likely a retest of the descending trendline (blue) or an area of value around the immediate horizontal resistance (125.150/125.800) is in the offing. A bearish setup in the area on a daily closing basis is likely to offer a feasible trade for a southward drive. This may expose the 122.300 handle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Feb._10,_2019_D1.png Size: 51 KB


I am bearish EURJPY.


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #585
  • Feb 17, 2019 3:03pm Feb 17, 2019 3:03pm
AUDNZD Weekly Technical Outlook

AUDNZD is a pair that is not yet on my main watch list. Last week, I decided to add a few pairs on my list of probable pairs to watch, and it includes AUDNZD. I will be tracking its behaviour over the next few weeks before deciding whether or not to place it on my main watch list.

The AUDNZD market is slightly bearish. On the weekly time frame, the bearish turnaround that occurred four weeks ago did not have much follow-through until last week when price action printed a bearish continuation candlestick. However, its lower shadow indicated that bulls were still giving bears some fight. Presently, price action is located around a support zone which witnessed a bounce of the indecision candlestick printed two weeks ago. How price action handles the zone in the early part of this week is crucial.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Feb._17,_2019_W1.png Size: 48 KB


On the daily time frame, price action is operating in a descending channel (blue). It is presently located at a support zone around the 1.03980 area. Last week Friday, bulls attempted to move price further northwards but their attempt was futile, resulting in the printing of an indecision candlestick. Should bulls succeed in taking price action northwards in the early part of this week, it will largely be temporary in nature; the 1.04750 area is likely to act as a horizontal barrier to any northward momentum. Nevertheless, a northward pullback to an area of value will be seen by me as a good opportunity to look for a sell-trading setup.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Feb._17,_2019_D1.png Size: 49 KB


On the H4 time frame, last week Tuesday, price action witnessed a 68.2 Fib retracement of the southward drop from the high of January 21, 2019 to the low of February 6, 2019. Based on the preceding patterns of price action on the H4 time frame, we may see another pullback, perhaps to retest the broken down (or former) horizontal support around the 1.04630 area.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Feb._17,_2019_H4.png Size: 48 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #586
  • Feb 17, 2019 3:34pm Feb 17, 2019 3:34pm
CHFJPY Weekly Technical Outlook

The CHFJPY is another pair I now have on the list of probable pairs I am tracking for the next few weeks.

The CHFJPY is a market in consolidation. A simple wave analysis on the weekly time frame shows that the impulse trend is southward but the market has been in a corrective mode for quite a long while. The 117.900 area has held as the channel resistance for quite some time, while the 108.460 area has been reacting as a major channel support. In the last four weeks, price action has been consolidating near the major channel support as attempts by bears to break down the 108.460 area have not materialized. Nevertheless, the technicals are slightly in support of bears. And this should be seen in the context of the dominant trend, which is southwards.

Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPY_Feb._17,_2019_W1.png Size: 48 KB


Price action on the daily time frame is presently located at a significant horizontal support (the 109.800 area). The technicals are slightly bearish but price action is mainly ambivalent. Thus, there is no momentum for a southward continuation yet. Any bearish move is likely to initially target the 108.650 area before trying to expose the 107.280 handle.

Attached Image (click to enlarge)
Click to Enlarge Name: CHFJPY_Feb._17,_2019_D1.png Size: 48 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #587
  • Feb 17, 2019 3:43pm Feb 17, 2019 3:43pm
XAUUSD Weekly Technical Outlook

The XAUUSD market has maintained a bullish tone for quite some time. This is likely to continue until bulls hit the 1365.70 barrier. Of course, that is still a long way to go and we will have the necessary southward corrective moves along the way.

On the weekly time frame, the candlesticks printed since the past three weeks have been bullish, but a northward momentum is lacking. Presently, price action is located in an area that has seen congestion in the past and we may expect a bullish breakout from the area to lead to an increase in a northward momentum. The 1338.00 area is the immediate horizontal resistance and, technically, a natural target of such a bullish move.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._17,_2019_W1.png Size: 50 KB


On the daily time frame, price action is respecting an ascending trendline (purple) from the low of November 14, 2018. The bullish candlestick printed last week Friday was a breakout from a minor area of consolidation and we may see a bullish follow-through in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._17,_2019_D1.png Size: 54 KB


On the H4 time frame, the technical patterns show a market still disposed for a northward continuation. Elementary wave analysis indicates that as the recent bullish move from 1311.90 is a move from a corrective phase, we may see further impulsive move northward, more so with a lot of space to move into shown on the weekly time frame. Nevertheless, as the market decides what it prints, we should watch how bulls perform in the early part of this week, particularly around the 1330.00 area, the minor horizontal resistance on the H4 time frame.

I remain bullish XAUUSD.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._17,_2019.png Size: 52 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #588
  • Feb 17, 2019 3:45pm Feb 17, 2019 3:45pm
I like your analysis
Try don't lose pants never...
  • #589
  • Feb 17, 2019 3:50pm Feb 17, 2019 3:50pm
Thanks mate.

Trade safe and prosper.

KP

Quoting braintheboss
I like your analysis
Do your homework, follow the footprints of smart money
  • #590
  • Feb 17, 2019 3:53pm Feb 17, 2019 3:53pm
EURUSD Weekly Technical Outlook

The EURUSD market has been sideways for quite a while. The bearish candlestick printed on the weekly time frame two weeks ago did not have significant follow-through last week as the candlestick printed by the market ended with a bullish flavour. Presently, market players are operating around a horizontal support zone. Just below the zone, about 120 pips southward, is another congestion area around 1.10910. That level is likely to be an initial target of any bearish move. Alternatively, a northward move is likely to see bulls target the 1.14340 area, the high of the bearish move two weeks ago and a confluence of the monthly pivot. By extension, we may see bulls retest the broken-down ascending trendline (black) traceable to October 2016. However, a bearish breach of the outer ascending trendline (red) traceable to the low of October 2016 may start the transition of the sideways market to a bearish one.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Feb._17,_2019_W1.png Size: 53 KB


The daily time frame shows a market operating in a descending channel (blue). Price action has completed two downward waves within the channel and is disposed southwards. However, it is in a consolidation phase and bulls were largely in control last week Thursday. We may see a northward pullback in the early part of this week, but bulls are not likely to have much space for a northward move. The technicals favour a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Feb._17,_2019_D1.png Size: 53 KB


The H4 time frame shows that bulls are presently taking price action on a northward retracement. However, there are a few barriers which they must contend with. A significant barrier is around the horizontal resistance spanned by 1.13480/1.13720. A southward turnaround after the northward pullback is likely to give a much-desired momentum to a bearish continuation. I will be looking for a bearish setup at an area of value, say around 1.13850, which is near the immediate horizontal resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Feb._17,_2019_H4.png Size: 56 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #591
  • Feb 24, 2019 2:24pm Feb 24, 2019 2:24pm
AUDNZD Weekly Technical Outlook

The AUDNZD market continued a southward disposition after a pullback a few weeks back. On the weekly time frame, a long-upper tailed doji was printed last week, and portends a continuation of the big bearish candlestick printed two weeks ago. The technicals are in favour of bears. Should bears manage to sustain their influence in the market this week, we may see them target the 1.02635 area. Alternatively, a bullish intervention is likely to see a retracement to a value area, such as the 1.04835 area – the high of the long-upper tailed doji printed last week.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Feb._24,_2019_W1.png Size: 43 KB


On the daily time frame, price action is operating in a descending channel (blue). Basically, there was a sideways operation in the latter part of the week but the bearish pinbar printed on Friday was a follow-up to the slightly bearish candlestick printed on Thursday. This pinbar was printed at a minor support zone on the daily time frame. But as a significant support zone, around 1.03650, is less than 30 pips away, we may see some sideways of price action in the early part of this week, before a bearish continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Feb._24,_2019_D1.png Size: 48 KB


On the H4 time frame, the market has experienced a 61.8 Fib retracement of the drop from the high of February 13, 2018 to the low of February 14, 2019. Price action has breached southward a mini support trendline (magenta) and we may see a further southward move should bears maintain their influence in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Feb._24,_2019_H4.png Size: 47 KB


I am bearish AUDNZD.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #592
  • Feb 24, 2019 3:02pm Feb 24, 2019 3:02pm
XAUUSD Weekly Technical Outlook

The XAUUSD market has disposed with a positive tone for quite a while. However, the northward momentum seems to be waning. On the weekly time frame, price action was sideways for much of this month until last week when a bullish candlestick took the market a bit further northward towards the immediate horizontal resistance (i.e. the 1347.00/1357.00 area) but was pulled back by bears. The bullish candlestick printed was ultimately in favour of bears, being a bearish pinbar. The nature of the pinbar portends the likelihood of a southward turnaround. However, how far such a move would be is a matter for the market to decide. But realistically, we can expect a brief northward move before a bearish turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._24,_2019_W1.png Size: 44 KB


A morning star formation appeared on the daily time frame after the Thursday session. Technically this is a bearish setup, particularly as it formed near a horizontal resistance zone that has held for quite a long while. Last Friday, bulls attempted to take price action northward but the attempt was checkmated by bears, resulting in the printing of a bearish pinbar. Besides, the technicals indicate a waning of a bullish momentum. However, as price action is still respecting a support trendline (red) traceable to November 2018, we may have to wait for a bearish breakdown of the trendline on a daily closing basis before having confidence in a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._24,_2019_D1.png Size: 46 KB


Recent price action on the H4 time frame favours bears. A minor resistance trendline (black) from recent highs is being respected. During the penultimate session last week Friday, price action retraced towards a minor horizontal resistance zone (bound by magenta horizontal lines) but the candlestick printed ended up being a bearish pinbar. This was followed up by bears in the last session with the printing of a bearish continuation candlestick. However, the fact that the candlestick printed has a lower shadow indicates that bulls were still exerting some influence. Much likely, we may see a brief bullish move in the early part of this week, but, technically, bears are favoured to drive price action to at least retest the support trendline (red) traceable to November 2018.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Feb._24,_2019_H4.png Size: 49 KB


I am bearish XAUUSD on a short-term basis.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #593
  • Feb 24, 2019 3:31pm Feb 24, 2019 3:31pm
EURNZD Weekly Technical Outlook

On the weekly time frame, price action on the EURNZD market has moved southward of the consolidation around the 1.66570 area. Last week, the market printed a bearish pinbar in the area but the low of the bearish candlestick printed a week earlier was not breached. The immediate horizontal support is around the 1.62920 area and may be an initial target of bears.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Feb._24,_2019_W1.png Size: 43 KB


On the daily time frame, price action is hugging the descending zone of two resistance trendlines (blue and red) traceable to October 8, 2018. A topping formation is predominant in the zone and a strong bearish candlestick rejected the zone last Friday. We may see price action being bearish this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Feb._24,_2019_D1.png Size: 54 KB


On the H4 time frame, price action is presently located at a minor horizontal support and respecting a micro support trendline from recent lows. A breakdown of the support trendline on a daily closing basis is likely to give impetus to a bearish continuation. This is technically supported by the dominant wave patterns on the H4 time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Feb._24,_2019_H4.png Size: 53 KB


I am bearish EURNZD.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #594
  • Edited Feb 25, 2019 6:01am Feb 24, 2019 3:59pm | Edited Feb 25, 2019 6:01am
EURUSD Weekly Technical Outlook

The EURUSD market is still in a consolidation mode. The horizontal channel spanning 1.12640 and 1.14750 is still in place. Last week, a small bullish candlestick was printed at the channel support but the wicks on both ends suggest that the market is still ambivalent. The fact that there was little follow-through of the bullish pinbar printed two weeks ago should also be noted. Technically, we may have a sideways of price action or a brief northward retracement in the early part of this week. A break below the 1.12600 area is likely to instigate a southward momentum. Such a move is likely to target the horizontal support around the 1.11200 area.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Feb._24,_2019_W1.png Size: 42 KB


On the daily time frame, the market is presently in a sideways operation in a broken-down support zone around 1.13390. The technicals are ambivalent.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Feb._24,_2019_D.png Size: 47 KB


The H4 time frame shows a EURUSD market in a retracement. In the early part of last week, price action saw a 50 Fib retracement of the drop from the high of January 31, 2019 to the low of February 15, 2019. It is now in sideways operation around the 38.2 Fib zone. A pennant formation (magenta) is apparent on the H4 time frame and a breakdown of the pennant is likely to result in a southward continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Feb._24,_2019_H4.png Size: 52 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #595
  • Mar 3, 2019 2:44pm Mar 3, 2019 2:44pm
EURGBP Weekly Technical Outlook

On the weekly time frame, the EURGBP market has been sideways for quite a long while; operating in a horizontal channel spanning 0.904140/0.87020. Last week a bearish candlestick printed by the market breached the channel support. However, the long-lower tail of the candlestick indicated that bulls were still influential in the market. Should bulls succeed in hindering bears, we may expect them to push price action northward to retest the resistance trendline (black) traceable to December 2018.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_Mar._3,_2019_W1.png Size: 44 KB


On the daily time frame, price action moved below the channel support (0.87020) seen on the weekly time frame and retraced into within 38.2 Fib zone to retest a former horizontal support around 0.88180. Thereafter it disposed southwards for much of last week. However, on Thursday and Friday last week, bulls seized the initiative to push price further northwards, but the attempt lacked momentum. We may see them attempt to take price action further northwards in the early part of this week; the broken-down channel support around 0.87040 is likely to be a target.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_Mar._3,_2019_D1.png Size: 50 KB


On the H4 time frame, after price action breached southwards a upward sloping channel (red), it is now respecting a descending channel black). Price action is now disposed northward around the channel resistance. In the last two sessions on Friday, price action was sideways near a minor horizontal resistance. Any attempt by bulls to take price action northwards is likely to meet with resistance around the monthly pivot (0.86465).

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP_Mar._3,_2019_H4.png Size: 55 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #596
  • Mar 3, 2019 3:20pm Mar 3, 2019 3:20pm
GBPJPY Weekly Technical Outlook

The GBPJPY has disposed positively since January 2019 after printing a hammer candlestick. On the weekly time frame, price action is now located around an S/R zone within a horizontal channel (bound by horizontal purple lines) in which price action has been operating since February 2017. Last week, the market printed a bullish continuation candlestick. However, the upper shadow of the print is an indication that bulls are not fully in control.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_Mar._3,_2019_W1.png Size: 43 KB


The daily time frame shows a GBPJPY market disposed positively. However, the indecision candlesticks printed last week Thursday and Friday indicate that the bullish momentum is waning as price action approaches a significant resistance zone around the 149.000 area. Technically, bulls are still favoured to take price action further northwards.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_Mar._3,_2019_D1.png Size: 55 KB


On the H4 time frame, the market is disposed northward, but the bearish candlesticks printed recently indicate that the bullish momentum is weakening. We may see bears take price action a bit southward in the early part of this week. A support trendline (red) is still in play.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY_Mar._3,_2019_H4.png Size: 44 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #597
  • Mar 3, 2019 3:49pm Mar 3, 2019 3:49pm
EURUSD Weekly Technical Outlook

The EURUSD market has been in a consolidation for quite a while. On the monthly time frame, the market is operating in a downward sloping channel (red), which corresponds to a complex correction after an impulsive wave, apparently the 5th wave of an Eliot Wave analysis. Presently, price action is sideways in a horizontal S/R zone which is in confluence with the monthly pivot.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._3,_2019_MN.png Size: 44 KB


On the weekly time frame, price action has broken below an ascending trendline (green) traceable to December 2016 and is now operating within a channel created by two descending lines (black and lue) traceable to March 2018. The market tested the trendline (green) a couple of times and flipped it as resistance. However, the southward momentum has been limited. Last week, the market printed a small bearish pinbar within an area of value, and we may see bears take the market further southwards this week. The 1.12140/1.11450 zone is likely to be a target of any bearish move. However, should bulls wrestle control of price action, they may target the 1.15140 area.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._3,_2019_W1.png Size: 51 KB


On the daily time frame, the market is operating in a descending wedge (magenta). Recent price action has formed a topping /bearish pattern at an area of value and we may see bears take price action further southwards this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._3,_2019_D1.png Size: 52 KB


On the H4 time frame, the market is operating around just below the 61.8/50 Fib zone of the most recent downward swing; from the high of 1.15120 to the low of 1.12340. I expect bears to seize the initiative for a bearish continuation this week. But we may see a brief retracement northward in the early part of this week first.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._3,_2019_H4.png Size: 51 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #598
  • Mar 4, 2019 4:27am Mar 4, 2019 4:27am
Quoting KeenPips
EURUSD Weekly Technical Outlook The EURUSD market has been in a consolidation for quite a while. On the monthly time frame, the market is operating in a downward sloping channel (red), which corresponds to a complex correction after an impulsive wave, apparently the 5th wave of an Eliot Wave analysis. Presently, price action is sideways in a horizontal S/R zone which is in confluence with the monthly pivot. {image} On the weekly time frame, price action has broken below an ascending trendline (green) traceable to December 2016 and is now operating...
Hi KeenPips,good analysis,first time I encountered this thread.Kindly mention the moving averages being used.
  • #599
  • Mar 4, 2019 10:41am Mar 4, 2019 10:41am
Thanks mate for your positive comment about the thread. It really doesn't matter which MAs you use as long as you are consistent in your analysis and in the way you use them. Also, I use different MAs depending on the volatility of the pairs. For last week' analysis, we have 8, 21 and 55 EMAs.

Trade safe and prosper.

KP

Quoting AbbasRizvi
{quote} Hi KeenPips,good analysis,first time I encountered this thread.Kindly mention the moving averages being used.
Do your homework, follow the footprints of smart money
  • #600
  • Mar 10, 2019 3:56pm Mar 10, 2019 3:56pm
XAUUSD Weekly Technical Outlook

The XAUUSD market has disposed positively for quite a while. On the weekly time frame, price action printed a bullish pinbar around the 38.2/50 Fib retracement zone of the most recent upward swing from the low of 1202.00. This is also in confluence with the horizontal support around the 1285.00 area. Technically, we may expect a further northward move, perhaps initially targeting the horizontal resistance around 1310.00; which may extend to the 1328.00 area.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Mar._10,_2019_W1.png Size: 50 KB


The daily time frame shows a market that has decreased in bullish momentum and has retraced southwards to retest a previous resistance zone around the 1289.00 area. Price action was sideways in the area for the most part of last week before bulls took it further northwards on Friday, printing a significantly bullish candlestick. We may expect bulls to exert further influence in the market this week, but the next resistance is around the 1306.00 area. Thus, we may see reduced bullish momentum in the early part of this week. The 1320.50 area is likely to witness a strong resistance to bulls’ influence should they manage to contend with the earlier barriers.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Mar._10,_2013_D1.png Size: 50 KB


On the H4 time frame, bears took price action southwards. However, after a sideways around a horizontal support in the 1285.00 area, bulls seized the initiative to move price further northwards. During the last session on Friday, the market made a bearish print. This indicates that bears are still influential. Bulls will have to breach the minor horizontal resistant around 1305.00 area before we can have confidence in their ability to get rid of bears. The area may even experience a role flip for a southward turnaround. Personally, I see a bullish move as temporary in nature and we may soon see a southward turnaround. Therefore, I am stepping aside from this market.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Mar._10,_2019_H4.png Size: 49 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
2 traders viewing now