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Weekly Top-Down Technical Analyses

  • #601
  • Mar 10, 2019 4:10pm Mar 10, 2019 4:10pm
EURCAD Weekly Technical Outlook

The EURCAD market rejected the resistance zone around 1.55120 and has disposed southward on the weekly time frame. After a retracement of the most recent downward swing to the 38.2/50 Fib zone, last week, price action printed a bearish pinbar at a broken-down support area. We can expect a bearish continuation this week, and an initial target being the 1.48400 handle.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD_Mar._10,_2019_W1.png Size: 47 KB


The daily time frame showed that price action printed a bearish engulfing candlestick last week Thursday. On Friday, bulls attempted to take price action northward but failed, resulting in a doji-candlestick print. This was apparently a attempted retracement before a southward turnaround. I expect bulls to move price action a bit northward to around the 50/62.8 Fib of the bearish engulfing candlestick formed on Thursday before a southward turnaround. I am bearish EURCAD.

Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD_Mar._10,_2019_D1.png Size: 50 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #602
  • Mar 10, 2019 4:19pm Mar 10, 2019 4:19pm
EURAUD Weekly Technical Outlook

The EURAUD market has been in consolidation around a resistance zone (1.57830/1.60410) since the last week in January 2019. Last week, a bearish pinbar was printed in the area and we may see a further bearish move this week. An initial target of such a move is likely to be the 1.5830 area. This may extend to the 1.56000 area, and, perhaps, in confluence with the ascending trendline (red) traceable to February 2017.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_Mar._10,_2019_W1.png Size: 44 KB


On the daily time frame, recent price action is operating in an ascending wedge (black). Last week Wednesday, the market printed a strong bullish candlestick but this was countered on Thursday with a print of an equally strong bearish candlestick. On Friday, the market printed a small bearish pinbar, indicating the likelihood of a bearish continuation in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_Mar._10,_2019_D!.png Size: 50 KB


The technical patterns on the H4 time frame indicate that we can expect a southward move for a fifth wave within the ascending wedge (black) seen on the daily time frame. Perhaps with the likelihood of a breakdown of the wedge support.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD_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
  • #603
  • Mar 10, 2019 4:27pm Mar 10, 2019 4:27pm
EURUSD Weekly Technical Outlook

The EURUSD market continues to dispose negatively but with reduced momentum. On the weekly time frame, price action is respecting a descending trendline (blue) traceable to April 2018. The order flow context shows bears printing more significant candlesticks in relation to bulls. Last week, the market printed a bearish continuation candlestick after bouncing back from the resistance trendline. However, the shadow on the low part of the candlestick indicates that bulls were giving bears some struggle. We can expect sideways of price action or even a brief northward move in the early part of this week, particularly as current price action is located near a major horizontal support zone. At any rate, bears are still favoured to move price action further southward and at least hit the 1.11450 area before any significant northward pullback.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._10,_2019_W1.png Size: 44 KB


On the daily time frame, price action is operating within a descending triangle (magenta). It breached the triangle southwards last week Thursday but bulls made a failed attempt to return it to within the triangle on Friday. Looking left, it is apparent that this was the third time price action attempted to breakdown the triangle. A successful breakdown of the triangle, perhaps later this week, is likely to result in a bearish momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._10,_2019_D1.png Size: 53 KB


Price action on the H4 time frame has moved sharply below an inner descending trendline (black), indicating an increase in momentum. Bulls tried to pull price action back during the last six sessions between Thursday and Friday, but bears seized control in the last session to restrain the attempt. We may expect any retracement northward to be temporary and may turn around at the broken horizontal support around 1.12540 area or the inner descending trendline (black).

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_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
  • #604
  • Mar 10, 2019 4:51pm Mar 10, 2019 4:51pm
Quoting KeenPips
EURCAD Weekly Technical Outlook The EURCAD market rejected the resistance zone around 1.55120 and has disposed southward on the weekly time frame. After a retracement of the most recent downward swing to the 38.2/50 Fib zone, last week, price action printed a bearish pinbar at a broken-down support area. We can expect a bearish continuation this week, and an initial target being the 1.48400 handle. {image} The daily time frame showed that price action printed a bearish engulfing candlestick last week Thursday. On Friday, bulls attempted to take...
Thank you KeenPips, I find this very useful anf informative.
Just trying to put a kiss on the cheek of success
  • #605
  • Mar 10, 2019 4:59pm Mar 10, 2019 4:59pm
Thank you for your kind words.

Trade safe.

KP

Quoting pet3250
{quote} Thank you KeenPips, I find this very useful anf informative.
Do your homework, follow the footprints of smart money
  • #606
  • Mar 17, 2019 3:29pm Mar 17, 2019 3:29pm
EURNZD Weekly Technical Outlook

The EURNZD market is operating in a congestion zone. On the weekly time frame, the downward swing from the high of October 2018 to the low of December 2018 witnessed a 61.8 Fib retracement eleven weeks ago. Price action headed southwards thereafter but the southward momentum has waned since bulls intervened four weeks ago. Presently, the market is in a sideways mode around an S/R zone. Last week, price action printed a long-tailed doji candlestick, indicating market indecision. But the technicals give a slight edge to bears.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_March_17,_2019_W1.png Size: 51 KB


The daily time frame shows a market operating in a triangle (black). Recent price action has moved a bit northward of the triangle support, but bears have stepped in to restrain further northward move. The candlesticks printed last week Thursday and Friday favoured bears but there is still a sideways mode in the market. Technically, only a breakout of price action from the triangle can provide momentum on either side and I will be stepping aside from this market till then.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_March_17,_2019_D1.png Size: 49 KB


On the H4 time frame, recent price action is under the control of bears and the technicals are in support. We may see further southward move in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_March_17,_2019_H4.png Size: 51 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #607
  • Mar 17, 2019 3:46pm Mar 17, 2019 3:46pm
GBPCAD Weekly Technical Outlook

The GBPCAD market has a positive tone. On the weekly time frame, price action is operating in an ascending wedge (black) and is located near a horizontal resistance zone, 1.77600/1.78930, (bound by horizontal magenta lines). We can expect price action to operate sideways in the area. Should bulls manage to breach the zone, the next significant horizontal resistance is located around the 1.80990 area.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_March_17,_2019_W1.png Size: 51 KB


On the daily time frame, the market is disposed positively but has lacked directional momentum. Nevertheless, the technicals still favour bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_March_17,_2019_D1.png Size: 51 KB


On the H4 time frame, price action is respecting an outer ascending trendline (red) after breaking below an inner one (black). Presently, the market has witnessed a 50 Fib retracement of the upward swing from 1.71350 to 1.77180. However, the most recent candlestick prints are not fully bearish, showing that bears were not fully in control of the market. Perhaps, a northward turnaround is pending. We may have to wait for the market moves in the early part of this week for directional clarity.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCAD_March_17,_2019_H4.png Size: 54 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #608
  • Mar 17, 2019 4:11pm Mar 17, 2019 4:11pm
EURUSD Weekly Technical Outlook

The EURUSD market is still sideways. On the weekly time frame, price action is operating in a descending wedge (black); however, presently in consolidation. Two weeks ago, the market printed a bearish candlestick, which was negated by a bullish print last week. Nevertheless, technically, bulls appear poised to at least retest the high of the candlestick printed two weeks ago and may even target the wedge resistance at a confluence of the horizontal resistance located around the 1.14080 area.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_March_17,_2019_W1.png Size: 51 KB


On the daily time frame, price action is operating in a smaller descending wedge (magenta) within the context of a bigger one (black). Price action in the latter part of last week was consolidating and formed rejection candlesticks near the inner wedge resistance. However, the technicals are still slightly in favour of bulls and we may see some northward move before bears gain influence in the market. The area between the inner wedge resistance and the outer wedge resistance is likely to see a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_March_17,_2019_D1.png Size: 53 KB


Recent price action on the H4 time frame is disposed northward and we may see further northward move. However, we should be aware that there is a minor horizontal resistance located around 1.13070, about 200 pips away, and, so, we may not see much bullish move until the area is breached.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_March_17,_2019_H4.png Size: 50 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #609
  • Mar 17, 2019 4:19pm Mar 17, 2019 4:19pm
Quoting KeenPips
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...
Its cool see your past predictions and see were right. Good job...
Try don't lose pants never...
  • #610
  • Mar 17, 2019 4:22pm Mar 17, 2019 4:22pm
Thanks brain. I am encouraged.

I may be wrong. Trade safe.

KP

Quoting braintheboss
{quote} Its cool see your past predictions and see were right. Good job...
Do your homework, follow the footprints of smart money
  • #611
  • Mar 17, 2019 4:31pm Mar 17, 2019 4:31pm
Quoting KeenPips
Thanks brain. I am encouraged. I may be wrong. Trade safe. KP {quote}
Its true. You maybe wrong but nobody is perfect . I hope you have nice and green week
Try don't lose pants never...
  • #612
  • Mar 17, 2019 4:55pm Mar 17, 2019 4:55pm
You too mate; stay green.

KP

Quoting braintheboss
{quote} Its true. You maybe wrong but nobody is perfect . I hope you have nice and green week
Do your homework, follow the footprints of smart money
  • #613
  • Mar 18, 2019 3:00am Mar 18, 2019 3:00am
Hi all,

Here are my trade ideas for the coming week(s).. stops placed under candle patterns and managed accordingly..


AUDNZD - Buy
Potential reversal signal at support - Doji on weekly
WK: Doji with long lower shadow at support level reaching back to 2016
DY: Bullish engulfing pattern on 13/03 at support following similar bullish patterns at similar level at least since JUL 2016
DY: Bullish pattern appearing at bottom of Bollinger Band
DY: Positive divergence on MACD
H4: Price break above 20MA which was resistance now appearing as support

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_WB18MAR.png Size: 444 KB



AUDUSD - Buy
Potential reversal signal at support - Bullish piercing pattern on weekly
WK: Bullish pattern appearing at bottom of Bollinger Band and support area
WK: Lower lows to same lows - expect higher lows
WK: Positive divergence on MACD
DY: Potential pull back - I'd like to seek close above prior three sessions and above 20 SMA
H4: Price at resistance since beginning of MAR,
H4: Shooting star, inverse hammer, 2 dojis but price does not turn as well as above 20/50 MAs

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD_WB18MAR.png Size: 479 KB



USDCAD - Buy
Buy pull back of upward swing
WK: Upward trend - 20MA over 50 and 200MA
WK: Price bounce off 20MA
DY: Bullish engulfing pattern after downtrend
DY: Bullish engulfing pattern also appears at 20MA as support
DY: Bullish engulfing pattern also appears at bullish crossover of 20MA over 50MA
DY: Old support becomes new support
DY: Upward trend - 20MA over 50 and 200MA
H4: Double bottom pattern
H4: Price broken above 20MA
H4: Positive divergence on RSI
H4: MACD crossover signal

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD_WB18MAR.png Size: 379 KB
  • #614
  • Mar 18, 2019 7:15am Mar 18, 2019 7:15am
Good contribution, mate. Keep it up!

KP

Quoting monit0r
Hi all, Here are my trade ideas for the coming week(s).. stops placed under candle patterns and managed accordingly.. AUDNZD - Buy Potential reversal signal at support - Doji on weekly WK: Doji with long lower shadow at support level reaching back to 2016 DY: Bullish engulfing pattern on 13/03 at support following similar bullish patterns at similar level at least since JUL 2016 DY: Bullish pattern appearing at bottom of Bollinger Band DY: Positive divergence on MACD H4: Price break above 20MA which was resistance now appearing as support {image}...
Do your homework, follow the footprints of smart money
  • #615
  • Mar 24, 2019 3:07pm Mar 24, 2019 3:07pm
XAUUSD Weekly Technical Outlook

The XAUUSD market continues the positive tone. On the weekly time frame, an outer ascending trendline (red) is still intact, while an inner ascending trendline (black) is being respected by price action. The technicals favour bulls to take price action further northward and may retest the horizontal resistance around the 1337.80 area.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Mar._24,_2019_W1.png Size: 52 KB


A minor ascending trendline (magenta) has formed on the daily time frame and the technicals are in support of further northward move. However, we should watch how price action handles the minor horizontal resistance around the 1323.50 area.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Mar._24,_2019_D1.png Size: 52 KB


The general price action on the H4 time frame is operating in an expanding wedge with a northward tone (blue). Recently, the market formed a mini ascending channel (magenta) within which price action is presently operating; an indication of a positive tone. However, the momentum is limited. Presently there is a sideways of price action but, technically, bulls are still favoured to take price further northward. The 1323.50 area is a minor horizontal resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: XAUUSD_Mar._24,_2019_H4.png Size: 58 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #616
  • Mar 24, 2019 3:19pm Mar 24, 2019 3:19pm
AUDNZD Weekly Technical Outlook

The AUDNZD market is disposed southwards on the weekly time frame. A descending trendline (blue) traceable to the high of August 2018 is still active and being respected by price action. Presently the market is operating around a weekly support, the 1.02910 area and the price action is too far from the area of value. Therefore, we may have a pullback in the early part of this week before a southward continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Mar._24,_2019_W1.png Size: 49 KB


The daily time frame shows an AUDNZD market disposed southward but limited in momentum. The market has experienced some periods of consolidation. In fact, the bearish price action last Friday was moving out of a period of consolidation and we may expect a pullback before further southward continuation. An inner descending trendline (black) from recent highs is now in operation as resistance but the horizontal resistance around 1.03930 should be watched as a likely area for a bearish turnaround after a northward pullback.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDNZD_Mar._24,_2019_D1.png Size: 45 KB


The H4 time frame gives an intra-day technical outlook for a northward pullback to an area of value, and the minor resistance around the 1.03710 is a likely candidate.

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


I am bearish AUDNZD but will wait for a northward pullback before looking for a feasible trading opportunity.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #617
  • Mar 24, 2019 3:39pm Mar 24, 2019 3:39pm
EURNZD Weekly Technical Outlook

The weekly time frame shows that the EURNZD market made a 61.8 Fib retracement of the downward swing from the high of October 2018 to the low of December 2018 in the first week of January 2019. Since then the market has disposed southward but with limited momentum as there were periods of contention between bears and bulls. The contention between bears and bulls continued last week as the market printed a bearish candlestick with shadows on both ends. Should bears resume control of the market, the horizontal support around 1.62670 is likely to be a target.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Mar._24,_2019_W1.png Size: 52 KB


On the daily time frame, the market is consolidating within a descending triangle (red). Last week Friday, price action printed a bearish candlestick that pierced the triangle support before it was pulled back by bulls, ending with a long tail. Apparently, the market was not ready for a breakdown of the triangle and we may see a retracement in the early part of this week. The immediate horizontal resistance is around 1.65300.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Mar._24,_2019_D1.png Size: 49 KB


On the H4 time frame, price action is consolidating in a descending wedge (red). The bullish inbar printed last week Thursday is a likely indication that a pullback northward is in the offing. We may see the market make a retest of a broken-down support zone and role flip it as resistance. Such a zone is the 1.64700/1.65100 area (bound by horizontal magenta lines).

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Mar._24,_2019_H4.png Size: 50 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #618
  • Mar 24, 2019 3:47pm Mar 24, 2019 3:47pm
EURUSD Weekly Technical Outlook

Price action on the weekly time frame was in a ranging move in the past three weeks. But the bearish pinbar printed on the EURUSD market last week on the weekly time frame portends the likelihood of a bearish continuation. The pinbar was printed at a horizontal support. The immediate horizontal support is the 1.11460 area.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD_Mar._24,_2019_W1.png Size: 46 KB


On the daily time frame, price action is operating in a downward sloping wedge (blue). Recent price action has rejected the wedge resistance with bearish continuation candlesticks. But presently it is located around a horizontal support, in which the market printed a bearish candlestick with shadows at both ends last week Friday. Thus, technically, we may have some sideways operation in the area in the early part of this week. Nevertheless, we can expect bears to seize control of the market before the end of the week.

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #619
  • Mar 31, 2019 3:28pm Mar 31, 2019 3:28pm
EURNZD Weekly Technical Outlook

On the weekly time frame, the EURNZD has disposed southward since the 61.8 Fib retracement of a significant downward swing occurred 13 weeks ago. But there has been a decline in bearish momentum as the market grinds slowly southward. It is likely to take a significant break below the 1.63660 area before we see an increase in a southward momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Mar._31,_2019_W1.png Size: 49 KB


Price action on the daily time frame is operating in a descending channel (black). Presently, it is located around the channel resistance where a bearish candlestick was printed on Friday. However, the lower shadow of the candlestick indicates that bears are not fully in control, and we may see some sideways or bullish influence in the early part of this week. Nevertheless, the technicals are in favour of bears. An outer descending trendline (red) may be influential as resistance later.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Mar._31,_2019_D1.png Size: 55 KB


The ‘wicky’ candlesticks recently formed on the H4 time frame near the resistance line of the descending channel (black) seen on the daily time frame indicate a weakness of bullish momentum and the likelihood of a southward turnaround. However, the candlesticks printed on Thursday and Friday last week hinted at some bullish attempt to resist control by bears. Thus, we may see some sideways of price action or a brief northward retracement before a southward momentum materializes.

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD_Mar._31,_2019_H4.png Size: 54 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #620
  • Mar 31, 2019 3:39pm Mar 31, 2019 3:39pm
EURJPY Weekly Technical Outlook

The EURJPY market has stuck in a sideways operation since January when the market printed a bearish pinbar on the monthly time frame. This is in the context of an ascending triangle (red) within which price action is operating.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Mar._31,_2019_MN.png Size: 51 KB


On the weekly time frame, price action has been in consolidation around the support trendline of the ascending triangle (red) seen on the monthly time frame. This portends a bearish intent to break down the triangle. However, last week the market printed an indecision candlestick on the support trendline. So, we may see some sideways of price action in the early part of this week even though there is potential for a bearish breakdown of the triangle support line.

Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY_Mar._31,_2019_W1.png Size: 55 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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