Weekly Top-Down Technical Analyses | Page 48 | 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

  • #941
  • May 24, 2020 3:45pm May 24, 2020 3:45pm
EURUSD Weekly Technical Outlook

The EURUSD market is in a sideways mode in the context of a longer-term bearish outlook. On the weekly time frame, the 1.10125/1.07750 zone has held as the primary channel for market operation for the past seven weeks. Last week, a bullish candlestick printed within the channel spiked to test the channel resistance line before snapping back to the middle of the channel.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly_May 24, 2020.png Size: 46 KB


On the daily time frame, last week Thursday and Friday, bears took price action southward within the operating 1.10125/1.07750 horizontal channel seen on the weekly time frame. But the wicks on both ends of the bearish candlestick prints indicate that bulls are still in contention.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_May 24, 2020.png Size: 52 KB


On the H4 time frame, price action is within a rising channel (magenta). It is presently around the channel support area. The bullish candlestick printed in the last session on Friday has taken price action to the minor horizontal resistance around the 1.09040 area (blue). This area should be watched in the early part of this week as it is susceptible to a role flip. Nevertheless, I will not be trading this pair until there is directional clarity and momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_May 24, 2020.png Size: 67 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #942
  • May 24, 2020 6:55pm May 24, 2020 6:55pm
The Forex force be with you.
  • #943
  • May 26, 2020 3:35pm May 26, 2020 3:35pm
Thanks mate. You too.

Stay safe, trade safe.

KP

Quoting Aligator
The Forex force be with you.
Do your homework, follow the footprints of smart money
  • #944
  • May 26, 2020 3:45pm May 26, 2020 3:45pm
This is an update on the 0.66500 horizontal resistance zone. It is an area to watch for a feasible swing trading opportunity.

KP

Quoting KeenPips
....The AUDUSD market operation has been sideways for four weeks on the weekly time frame. But technicals favour bears, given the strong bearish drive from the 0.66500 area 11 weeks ago. Presently, market operation is in the 0.65650 area, with the 0.66500 area acting as immediate horizontal resistance....We should watch how price action handles the 0.65650/0.66000 area in the early part of this week. Personally, I will be interested in a bearish setup in the area, which will align with the recent dominant market operation on the weekly time frame....
Do your homework, follow the footprints of smart money
  • #945
  • May 26, 2020 3:52pm May 26, 2020 3:52pm
This is an update on the 1.09040 area. It has held for a bullish corrective move and a bearish swing trading opportunity is likely to be feasible within the 1.10125/1.07750 horizontal resistance zone.

Stay safe, trade safe.

KP

Quoting KeenPips
...The EURUSD market is in a sideways mode in the context of a longer-term bearish outlook....the 1.10125/1.07750 zone has held as the primary channel for market operation for the past seven weeks. Last week, a bullish candlestick printed within the channel spiked to test the channel resistance line before snapping back to the middle of the channel...On the H4 time frame, price action is within a rising channel...It is presently around the channel support area. The bullish candlestick printed in the last session on Friday has taken price action...
Do your homework, follow the footprints of smart money
  • #946
  • May 26, 2020 4:13pm May 26, 2020 4:13pm
This is an update on GBPUSD. The bearish mode I expected on the H4 time frame was not sustainable. Market operation had a bullish drive to around the 1.23000 horizontal resistance zone and has breached it on a daily closing basis. Technically, price action is now at the 78.6 Fib retracement of the downward swing from the 1.24330 area, and we should watch how the market handles the area.

Stay safe, trade safe.

KP

Quoting KeenPips
...The GBPUSD market is still disposed negatively. On the weekly time frame, two weeks ago, market operation broke down the 1.23000 horizontal support which had held as support for the previous four weeks. Last week, bulls retested the 1.23000 area, but bears made a strong push back. Technicals still favour bears and the next horizontal support is technically around the 1.20100 area....technicals on the H4 time frame still favour bears. Price action is respecting a falling trendline...
Do your homework, follow the footprints of smart money
  • #947
  • May 31, 2020 2:45pm May 31, 2020 2:45pm
AUDUSD Weekly Technical Outlook

The AUDUSD market operation has returned to the 0.67000 horizontal resistance area from where it moved southward in March 2020. On the monthly time frame, two bullish candlesticks were printed in April and May to retest the high of the bearish candlestick printed in March 2020. However, even though the momentum favours bulls, the general technical outlook on the monthly time frame is still bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDMonthly_May 31, 2020.png Size: 49 KB


On the weekly time frame, last week, a bullish continuation candlestick broke above the consolidation area in the 0.64340/0.65460 zone, where market operated in the previous three weeks, and nestled around the 0.67000 area. Although the momentum is presently on the side of bulls, the 0.67000 area is a congestion area and bulls will have to contend with it. Besides, the 0.67600 horizontal resistance area is close by, and it is another barrier to any bullish intent.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDWeekly_May 31, 2020.png Size: 39 KB


Price action on the daily time frame is bullish. However, the impulsive bullish waves are diminishing in size and potency, indicating a decline in bullish momentum. Price action is now around the 0.67000 area, where it is presently consolidating. We should note that the area was the origin of the strong bearish drive in March. Personally, as a swing trader, the strong bearish move in March is still part of the calculation. We should await how the market handles the area in the early part of this week. If the March-May price action pattern is a ‘W’ shape, we may see a southward turnaround at the 0.67000/0.67500 zone.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_May 31, 2020.png Size: 37 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #948
  • May 31, 2020 3:01pm May 31, 2020 3:01pm
USDJPY Weekly Technical Outlook

The USDJPY has been sideways for a few months. On the monthly timeframe, ambivalent candlesticks were printed in April and May, although the May print was slightly in favour of bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYMonthly_May 31, 2020.png Size: 46 KB


The momentum is presently in favour of bulls on the weekly time frame. The past three weeks have seen the printing of bullish candlesticks, but a directional dominance is lacking judging from the relatively small size of the candlesticks printed.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly_May 31, 2020.png Size: 49 KB


Recent candlesticks printed on the daily time frame are primarily mixed and relatively small, indicating a consolidating market, and primarily within the 107.090/108.000 horizontal channel (blue). Although bulls have a slight edge, we should await a breakout of price action from the channel before committing to a directional trade.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily_May 31, 2020.png Size: 40 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #949
  • May 31, 2020 3:22pm May 31, 2020 3:22pm
EURUSD Weekly Technical Outlook

Recent EURUSD market operation has been generally sideways. In May there was a bullish print, which erased the bearish print of April and took market operation to within 100 pips of the 1.12000 horizontal resistance area.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDMonthly_May 31, 2020.png Size: 53 KB


On the weekly time frame, last week, market operation printed a bullish continuation candlestick within a consolidating pattern in the form of a rising triangle (blue). It is presently located at the upper part of the triangle. Any further bullish pressure may see market operation retest the 1.12000/1.12330 zone, which was the origin of a bearish drop in March.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly_May 31, 2020.png Size: 49 KB


On the daily time frame, technicals still favour bulls but the momentum is in decline. As a swing trader, I will await how the market handles the 1.12000/1.12330 zone in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_May 31, 2020.png Size: 50 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #950
  • May 31, 2020 3:41pm May 31, 2020 3:41pm
GBPUSD Weekly Technical Outlook

The GBPUSD market is in a consolidation mode. On the monthly time frame, market operation printed a bearish candlestick in May to reverse the bullish print of April. However, the May print has a bottom shadow, indicating bullish pressure.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly_May 31, 2020.png Size: 43 KB


On the weekly time frame, last week, market operation printed a bullish continuation candlestick. However, it is located at the 50 Fib retracement of the downward swing from 1.31935 to 1.13940. Technically, this indicates that the bearish pressure is still intact.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly_May 31, 2020.png Size: 53 KB


On the daily time frame, bullish price action is entering/retesting the congestion area in the 1.23630/1.24700 zone (blue). We should await how the market handles the area in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_May 31, 2020.png Size: 44 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #951
  • Jun 6, 2020 4:06pm Jun 6, 2020 4:06pm
I have just completed the screening of the pairs on my watch list. This week's technical analyses will feature the following: EURUSD, GBPAUD, GBPUSD, USDJPY and XAUUSD.

KP
Do your homework, follow the footprints of smart money
  • #952
  • Jun 7, 2020 2:54pm Jun 7, 2020 2:54pm
XAUUSD Weekly Technical Outlook

The XAUUSD market is still in a bullish mode but the momentum is bearish. On the weekly time frame, a relatively big bearish candlestick was printed last week from the 1742.70 horizontal resistance area. The candlestick nestled at the 1670.60 horizontal support area, an area which has largely held as support since the second week in April.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly_June 7, 2020.png Size: 39 KB


On the daily time frame, technicals still favour bears. However, we should be wary of the fact that price action is at the lower boundary of a horizontal channel spanning the 1672.30/1752.70 zone (magenta). What the market does in the area is likely to be a price action marker for the rest of the week.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily_June 7, 2020.png Size: 48 KB


On the H4 time frame, the candlesticks printed in the last two H4-sessions on Friday were bullish in nature but relatively insignificant. Nevertheless, this is an indication of emergence of bullish pressure.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4_June 7, 2020.png Size: 59 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #953
  • Jun 7, 2020 3:05pm Jun 7, 2020 3:05pm
GBPAUD Weekly Technical Outlook

The negative disposition of the GBPAUD continues. On the weekly time frame, recent market operation is largely influenced by bears. Technicals still favour bears.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDWeekly_June 7, 2020.png Size: 45 KB


Price action on the daily time frame is within a falling channel (blue). Presently, it is located at the channel support trendline and in confluence with a horizontal support around the 1.81700 area. The candlesticks printed on Wednesday to Friday last week were printed in the area and are doji-like. We may see a continuation of sideways of price action in the area, or even a pullback, in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUDDaily_June 7, 2020.png Size: 49 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #954
  • Edited Jun 8, 2020 12:15pm Jun 7, 2020 3:19pm | Edited Jun 8, 2020 12:15pm
USDJPY Weekly Technical Outlook

USDJPY on the weekly time frame is disposed positive. Last week, a bullish continuation candlestick was printed on the weekly time frame. Technicals are in favour of bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly_June 7, 2020.png Size: 57 KB


Technicals and price action on the daily time frame are bullish.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily_June 7, 2020.png Size: 43 KB


On the H4 time frame, price action is disposed positively. However, the increase in the number of bearish candlesticks indicates a decline in bullish momentum or the emergence of bearish pressure. We may see a pullback of price action in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4_June 7, 2020.png Size: 41 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #955
  • Jun 7, 2020 3:27pm Jun 7, 2020 3:27pm
GBPUSD Weekly Technical Outlook

Market operation on the weekly time frame printed a relatively big bullish continuation last week. However, the candlestick printed has a wick at the upper end, indicating the emergence of bearish pressure. The 1.27700 area is the immediate horizontal resistance; this area is less than 100 pips northward of present location of market operation. We should watch how the market handles the area in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly_June 7, 2020.png Size: 51 KB


On the daily time frame, price action is still bullish, but it has entered the 1.26800/1.28000 horizontal resistance zone (magenta). This area is susceptible to a role flip. Nevertheless, we should await how the market handles it in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_June 7, 2020.png Size: 41 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #956
  • Jun 7, 2020 3:45pm Jun 7, 2020 3:45pm
EURUSD Weekly Technical Outlook

Having shaken off the sideways two weeks ago, EURUSD market operation is still positive on the weekly time frame. However, the candlestick printed last week had a significant upper shadow, which is an indication of bearish pressure.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly_June 7, 2020.png Size: 46 KB


The price action on the daily time frame is still bullish. But last week Friday, it printed a bearish candlestick, indicating that bears are contesting market influence. The 1.15100/1.15800 area (magenta) is the immediate horizontal resistance zone. How price action handles the area this week may be crucial to the general market trend.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_June 7, 2020.png Size: 62 KB


Recent price action on the H4 time frame shows an increase in bearish pressure. Although technicals still favour bulls, the bullish momentum is declining.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_June 7, 2020.png Size: 35 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #957
  • Jun 13, 2020 2:48pm Jun 13, 2020 2:48pm
I have just completed the screening of the pairs on my watch list. Based on the screening, I have chosen the following pairs for analysis: EURGBP, EURUSD, GBPUSD and XAUUSD.

KP
Do your homework, follow the footprints of smart money
  • #958
  • Jun 14, 2020 2:52pm Jun 14, 2020 2:52pm
XAUUSD Weekly Technical Outlook

The 1752.70/1672.30 zone (magenta) is presently the primary zone for market operation. On the monthly time frame, the bullish print of April 2020 nestled at the 1752.70 resistance boundary, while the range of the bullish candlestick in May spanned approximately the 1752.70/1672.30 zone. This month, bears effected a southward disposition from the 1752.70 horizontal resistance area and presently operating around the 1672.30 area. However, technicals and the order flow context still favour bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDMonthly_June 14, 2020.png Size: 41 KB


On the weekly time frame, market operation is presently sideways at the 1752.70/1672.30 zone (magenta). But technicals still favour bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly_June 14, 2020.png Size: 40 KB


The sideways of price action continues to be dominant on the daily time frame. Meanwhile, bulls are presently influencing price action. If the 1752.70/1672.30 zone (magenta) is not breached either way, trading with the prevailing momentum should be a good strategy.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily_June 14, 2020.png Size: 51 KB


On the H4 time frame, price action is disposed northward, but the momentum is declining as it nears the 1752.70 horizontal resistance boundary. Bearish candlesticks were printed in the last two H4-sessions on Friday, but the last H4-candlestick was relatively insignificant and could not breach the rising trendline (blue) from recent lows. We may see bulls continue a northward move in the early part of this week, perhaps to retest the 1752.70 horizontal resistance boundary, before a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4_June 14, 2020.png Size: 59 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #959
  • Jun 14, 2020 3:11pm Jun 14, 2020 3:11pm
EURGBP Weekly Technical Outlook

EURGBP market operation broke out of the 0.88900 horizontal resistance in May for a northward move. On the monthly time frame, market operation is now within the 0.90600/0.88900 zone.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPMonthly_June 14, 2020.png Size: 54 KB


On the weekly time frame, last week, market operation printed a bullish candlestick which spanned almost the same range as the bearish candlestick printed two weeks ago. However, technicals give a slight edge to bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPWeekly_June 14, 2020.png Size: 60 KB


Technicals on the daily time frame favour bulls. A rising trendline (magenta) traceable to February 19, 2020 is still intact, but there is a decline in bullish momentum. The immediate horizontal resistance, the 0.90600 area, is less than 90 pips away from present location of price action.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily_June 14, 2020.png Size: 46 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #960
  • Jun 14, 2020 3:24pm Jun 14, 2020 3:24pm
EURUSD Weekly Technical Outlook

The 1.07250/1.14840 zone has been the operating channel for EURUSD market operation since June 2019. On the monthly time frame, a long-tailed doji-like candlestick printed in March spanned the zone. The April bearish candlestick print nestled at the 1.07250 support boundary before a bullish print in May which took market operation further northward within the channel. Bulls effected a follow-up in the early part of June taking market operation towards the 1.14840 resistance boundary before bearish pressure set in.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDMonthly_June 14, 2020.png Size: 53 KB


On the weekly time frame, bulls have been dominant of market operation since mid-May and the bullish print of two weeks ago teased the upper boundary of the 1.07250/1.14840 horizontal channel. But last week, bears stepped in to effect a southward pullback, leading to the printing of a top-tailed bearish candlestick. Nevertheless, the candlestick printed is relatively small and has a lower shadow, indicating that bears are not fully in control of the market.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly_June 14, 2020.png Size: 47 KB


On the daily time frame, recent candlesticks have formed a topping pattern near the 1.13700 horizontal resistance area and an ‘M’ formation is also emerging; both of which portend a bearish pressure. However, a rising trendline (magenta) traceable to May 15, 2020 is likely to be a factor regarding how far the bearish pressure can go. The 1.11500 area is the next horizontal support.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_June 14, 2020.png Size: 55 KB


I may be wrong. Trade safe and prosper.

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