Weekly Top-Down Technical Analyses | Page 53 | 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

  • #1,041
  • Sep 16, 2020 9:02am Sep 16, 2020 9:02am
The GBPUSD price action is technically on a bullish correction, a pullback to the 1.29800 area; it is a value area on the D1 tf and susceptible to a bearish turnaround. I am bearish GBPUSD, but as a swing trader, I will await a feasible bearish setup on a daily closing basis before entering the market.

KP

Quoting KeenPips
GBPUSD Weekly Technical Outlook GBPUSD market operation is southward on the monthly time frame having retested a falling trendline (red) in August and a previous horizontal resistance around 1.34500 (blue). Technically, the 1.25200 area (purple) is the operating horizontal support on the monthly time frame. {image} An evening star formation can be seen on the GBPUSD weekly time frame. The relatively big bearish continuation candlestick printed last week signposts the intention of bears to advance a southward drive. Presently, market operation is...
Do your homework, follow the footprints of smart money
  • #1,042
  • Sep 16, 2020 9:06am Sep 16, 2020 9:06am
USDCAD price action is presently sideways. But technicals on the D1 and H4 tfs support a bearish continuation.

KP

Quoting KeenPips
USDCAD Weekly Technical Outlook Two weeks ago, USDCAD market operation entered the 1.30420/1.29000 horizontal support area (Sandybrown) that has held for several times in the past and which was last visited in December 2019. Last week, a bullish rejection candlestick was printed just above the zone and surged towards the 1.33050 horizontal resistance area (magenta) but failed to breach it before being resisted by bears, leaving an upper shadow. While the 1.33050/1.34020 area is the next horizontal resistance, the 1.30420/1.29000 area is the operating...
Do your homework, follow the footprints of smart money
  • #1,043
  • Sep 16, 2020 9:46am Sep 16, 2020 9:46am
The XAUUSD price action is sideways but technicals give a slight edge to bulls. Under the prevailing market environment, XAUUSD is better trader on a tf lower than the D1. On the H4 tf, the prevailing operating horizontal resistance is 1969.25 while the prevailing operating horizontal support is 1946.90.

KP

Quoting KeenPips
XAUUSD Weekly Technical Outlook XAUUSD technicals on the weekly time frame, e.g. two rising trendlines – outer (red) and inner (blue), and the order flow context support bulls. However, the sideways and ‘wicky’ market operation at the 1908.50/1990.00 prevailing horizontal resistance zone (magenta) indicate an increase in bearish pressure and a weakening of bullish momentum. Nevertheless, as the zone is wide, it affords potential opportunities for feasible trading setups in either direction. At any rate, it is important to consider the prevailing...
Do your homework, follow the footprints of smart money
  • #1,044
  • Sep 19, 2020 4:17pm Sep 19, 2020 4:17pm
The USDJPY market is presently disposed southward and at a horizontal support area. It is one of the pairs I will be tracking next week. My weekly technical outlook, which I will post before the market opens, will cover the pair as well as the following: AUDUSD, EURUSD and GBPUSD.

Stay safe.

KP
Do your homework, follow the footprints of smart money
  • #1,045
  • Edited 3:52pm Sep 20, 2020 2:50pm | Edited 3:52pm
USDJPY Weekly Technical Outlook

USDJPY market operation is disposed southward. On the weekly time frame, it has rejected the operating 106.271 horizontal resistance area (purple). The indecision candlestick printed two weeks ago was over-ridden by a relatively big bearish continuation candlestick last week, which broke significantly below the low of the bullish candlestick printed three weeks ago. Technically, we may see further bearish move this week.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly_September 20, 2020.png Size: 51 KB


On the daily time frame, price action is disposed negatively. But it has entered the horizontal support located at the 104.190 area (sandybrown). The candlestick prints of the last two days are bearish but have shadows on both ends. This indicates a struggle between bulls and bears. We should note that the bearish candlestick printed last week Friday had a lower shadow that is a bit longer than the upper shadow, indicating an increase in bullish pressure. We may see further bullish pressure in the early part of this week. However, should bears regain market control and significantly break down the104.190 area (sandybrown) on a daily closing basis, we may see them target the next horizontal support around 103.040 (light green).

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily_September 20, 2020.png Size: 42 KB


On the H4 time frame, price action is on a retracement from the 104.350 area and the 105.290 area (magenta) is a potential horizontal resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4_September 20, 2020.png Size: 55 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,046
  • Sep 20, 2020 3:11pm Sep 20, 2020 3:11pm
AUDUSD Weekly Technical Outlook

AUDUSD market operation is technically disposed northward. However, on the weekly time frame, it is presently sideways. The candlesticks printed in the last three weeks have been within the 0.72250/0.73700 zone. Last week, an indecision candlestick was printed in the zone. The 0.71420 area is a significant horizontal support.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDWeekly_September 20, 2020.png Size: 36 KB


Technically, the AUDUSD price action is on a northward mode with an outer rising trendline (red) still intact after price action has breached southwards an inner rising trendline (black). The short term technical outlook favours bulls but the momentum is declining; with the recent candlesticks mixed and relatively small. I will await what price action does in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_September 20, 2020.png Size: 40 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,047
  • Sep 20, 2020 3:26pm Sep 20, 2020 3:26pm
EURUSD Weekly Technical Outlook

As the EURUSD market broke above the 1.17830 multi-year horizontal resistance in July, the 1.16480/1.19610 zone became technically the prevailing operating zone. On the weekly time frame, market operation turned sideways seven weeks ago just below the 1.19610 upper boundary of the zone. Last week, market operation printed an indecision candlestick that maintained the market ambivalence, indicating a decline in bullish momentum. We should note that a downward impulsive move began from the second week of April 2018 to the second week of March 2020, and market operation is presently within its 61.8/78.6 Fib retracement zone; this is an area which, technically, is susceptible to a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly_September 20, 2020.png Size: 48 KB


On the D1 time frame, price action has broken below a rising trendline (red). However, technically, the market is still in a sideways mode within the 1.17360/1.19325 area (magenta), where topping candlestick prints are dominant. Technically, we may see a southward turnaround from the area.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_September 20, 2020.png Size: 44 KB


On the H4 time frame, technicals show a bullish retracement of the bearish impulsive move that began on September 16. Presently, price action is at the 50 Fib retracement level; a significant bearish rejection of the 61.8 Fib level, which is around 1.18360, will potentially lead to a southward continuation. I am more bearish than bullish EURUSD but, being a swing trader, I will await a significant bearish rejection at an area of value on a daily closing basis.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_September 20, 2020.png Size: 59 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,048
  • Sep 20, 2020 4:00pm Sep 20, 2020 4:00pm
GBPUSD Weekly Technical Outlook

Last week, GBPUSD market operation printed a bullish candlestick with an upper shadow at the 1.29690 area, which aligns with the 38.2 Fib retracement area of the downward move that began three weeks ago from the 1.34815 horizontal resistance area. The presence of an upper shadow on the bullish candlestick printed last week indicates bearish pressure. Should there be a bearish follow-through in the early part of this week, we may see bears target the 1.27230 area.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly_September 20, 2020.png Size: 46 KB


GBPUSD price action is operating within a rising channel (blue) on the daily time frame. After a retracement of the strong bearish move that began on September 2, 2020, price action is presently at the 1.29690 horizontal resistance area and about 97 pips above the channel support trendline. The area has seen sideways of price action since last week Thursday. Technically, market impulse favours bears and we may see a bearish turnaround. The 1.27230 area is the immediate horizontal support.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily_September 20, 2020.png Size: 44 KB


A bearish flag formation (magenta) is apparent on the GBPUSD H4 time frame. Technically, this portends a bearish continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4_September 20, 2020.png Size: 42 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,049
  • Sep 21, 2020 4:48am Sep 21, 2020 4:48am
Lot of work there KP, thank you for taking the time.
  • #1,050
  • Sep 21, 2020 5:00am Sep 21, 2020 5:00am
Thanks for your encouraging comment mate.

Stay safe, trade safe.

KP

Quoting mallee
Lot of work there KP, thank you for taking the time.
Do your homework, follow the footprints of smart money
  • #1,051
  • Sep 23, 2020 2:16am Sep 23, 2020 2:16am
My mid-week technical analysis of GBPUSD shows a bearish continuation. However, the H4 price action is presently sideways at 1.27230 area and likely to break down. This area may be a magnet later of any bullish pullback before further bearish momentum.

Stay safe, trade safe.

KP

Quoting KeenPips
GBPUSD Weekly Technical Outlook Last week, GBPUSD market operation printed a bullish candlestick with an upper shadow at the 1.29690 area, which aligns with the 38.2 Fib retracement area of the downward move that began three weeks ago from the 1.34815 horizontal resistance area. The presence of an upper shadow on the bullish candlestick printed last week indicates bearish pressure. Should there be a bearish follow-through in the early part of this week, we may see bears target the 1.27230 area. {image} GBPUSD price action is operating within a rising...
Do your homework, follow the footprints of smart money
  • #1,052
  • Sep 23, 2020 2:20am Sep 23, 2020 2:20am
Quoting KeenPips
My mid-week technical analysis of GBPUSD shows a bearish continuation. However, the H4 price action is presently sideways at 1.27230 area and likely to break down. This area may be a magnet later of any bullish pullback before further bearish momentum. Stay safe, trade safe. KP {quote}
yeahh buddy..
will watch 2725-45..
decision place..
take care
just for a cup of coffee...
  • #1,053
  • Sep 23, 2020 2:22am Sep 23, 2020 2:22am
Here's my mid-week technical update on the EURUSD. Price action has broken below the 1.17360 horizontal support on a daily closing basis and we can expect a bearish continuation. However, a sustainable southward turnaround will require a northward pullback, perhaps retesting the 1.17360 area or the 1.17070 minor technical reaction area on the H4 tf, before, a further bearish drive.

Stay safe, trade safe.

KP

Quoting KeenPips
EURUSD Weekly Technical Outlook As the EURUSD market broke above the 1.17830 multi-year horizontal resistance in July, the 1.16480/1.19610 zone became technically the prevailing operating zone. On the weekly time frame, market operation turned sideways seven weeks ago just below the 1.19610 upper boundary of the zone. Last week, market operation printed an indecision candlestick that maintained the market ambivalence, indicating a decline in bullish momentum. We should note that a downward impulsive move began from the second week of April 2018...
Do your homework, follow the footprints of smart money
  • #1,054
  • Sep 23, 2020 2:25am Sep 23, 2020 2:25am
I like that mate. We expect some market reaction at a certain area and wait for how price action handles it before making a trading decision. Lol.

Stay safe, trade safe.

KP

Quoting akim0895
{quote} yeahh buddy.. will watch 2725-45.. decision place.. take care
Do your homework, follow the footprints of smart money
  • #1,055
  • Sep 23, 2020 2:33am Sep 23, 2020 2:33am
The AUDUSD is a technically interesting pair and behaving as expected. A sustainable bearish turnaround, however, will require a significant breakdown of the 0.70920 area on a daily closing basis.

Stay safe, trade safe.

KP

Quoting KeenPips
....The short term technical outlook favours bulls but the momentum is declining; with the recent candlesticks mixed and relatively small. I will await what price action does in the early part of this week. {image} I may be wrong. Trade safe and prosper. KP
Do your homework, follow the footprints of smart money
  • #1,056
  • Edited 2:48am Sep 23, 2020 2:37am | Edited 2:48am
The USDJPY is on a northward pullback and the 105.290 prevailing horizontal resistance area will likely give way to a sustainable southward turnaround.

Stay safe, trade safe.

KP

Quoting KeenPips
.... We should note that the bearish candlestick printed last week Friday had a lower shadow that is a bit longer than the upper shadow, indicating an increase in bullish pressure. We may see further bullish pressure in the early part of this week. However, should bears regain market control and significantly break down the104.190 area (sandybrown) on a daily closing basis, we may see them target the next horizontal support around 103.040 (light green). {image} On the H4 time frame, price action is on a retracement from the 104.350 area and the 105.290 area (magenta) is a potential horizontal resistance...
Do your homework, follow the footprints of smart money
  • #1,057
  • Sep 26, 2020 3:28pm Sep 26, 2020 3:28pm
Technicals support a bearish continuation of AUDUSD price action. I will post my weekly analysis on each of the following before market open on Sunday: AUDUSD, EURUSD, GBPUSD and XAUUSD.

Stay safe, trade safe.

KP
Do your homework, follow the footprints of smart money
  • #1,058
  • Sep 27, 2020 2:39pm Sep 27, 2020 2:39pm
XAUUSD Weekly Technical Outlook

The XAUUSD market has been bullish for quite a while. But on the monthly time frame, a bearish pressure which began in August continued in September. Presently, the 1981.30/1818.30 (magenta) is the prevailing zone of market structure and bears are operating towards the lower part of the zone.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDMonthly_September 27, 2020.png Size: 37 KB


On the weekly time frame, last week, market operation broke down an inner rising trendline (blue) traceable to March but an outer trendline (red) traceable to May 2019 is still intact. The bearish candlestick print of last week was relatively big and broke below a master candlestick formed seven weeks ago; the master candlestick had influenced a sideways of candlestick prints for six weeks. A break below it is indicative of an increased bearish pressure. The 1818.30 area is the immediate horizontal support on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly_September 27, 2020.png Size: 36 KB


On the daily time frame, after the bearish continuation move on Wednesday last week, price action is presently sideways around the 1863.65 minor horizontal support area. Technicals still favour bears and a break below the 1863.65 area may see bears expose the significant 1818.30 horizontal support area.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily_September 27, 2020.png Size: 39 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,059
  • Sep 27, 2020 2:55pm Sep 27, 2020 2:55pm
AUDUSD Weekly Technical Outlook

The AUDUSD market operation is disposed southward on the monthly time frame. The 0.73790/0.68830 zone (magenta) is the prevailing operating zone; the 0.73790 area being the horizontal resistance while the 0.68830 area is the horizontal support. Presently, market operation is about 140 pips above the horizontal support area.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDMonthly_September 27, 2020.png Size: 44 KB


On the weekly time frame, last week, market operation broke below the bullish candlestick printed five weeks ago, which had been operating as a master candlestick for a sideways operation for three weeks. This indicates a strong bearish pressure. Presently, market operation is located at the 0.70260 horizontal support area.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDWeekly_September 27, 2020.png Size: 36 KB


The technical market structure and order flow context on the daily time frame support bears more than bulls. But the 0.72170 previous horizontal support may need to be retested for a bearish rejection set-up on, say, the daily time frame, before we can have confidence in a southward continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDDaily_September 27, 2020.png Size: 33 KB


On the H4 time frame, price action has broken down a rising channel (blue) and disposed southward. It is presently in a sideways mode at the 0.70260 area. Technically, we may see a pullback to an area of value, such as the 0.71060/0.71560 zone (sandybrown), which aligns with the 38.2/50 Fib zone of the downward swing from the rising channel.

Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH4_September 27, 2020.png Size: 53 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,060
  • Sep 27, 2020 3:18pm Sep 27, 2020 3:18pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the monthly time frame is disposed southward from the 1.19550 horizontal resistance area (magenta). The interim monthly candlestick print is located about 120 pips of the 1.14950 horizontal support area (light green).

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDMonthly_September 27, 2020.png Size: 48 KB


On the weekly time frame, after several weeks of consolidation and formation of a topping pattern, last week, market operation printed a relatively big bearish candlestick that broke down the area of consolidation and dipped below the low of the relatively big bullish candlestick printed nine weeks ago. This, technically, indicates a strong bearish pressure and we may see bears exert further pressure this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly_September 27, 2020.png Size: 45 KB


Price action on the daily time frame has broken below the 1.17220 area (black), which is the lower boundary of the consolidation pattern that began on July 29. This technically signposts bearish intention for a southward continuation. But presently there is limited bearish momentum as price action became sideways after the breakdown of the area. Technicals still favour bears more than bulls but will likely require a northward pullback to an area of value, say the 1.177220 area, and a role flip before we can see a sustainable bearish drive. The 1.14950 area (light green) is, technically, the next horizontal support.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily_September 27, 2020.png Size: 40 KB


On the H4 time frame, recent price action has done a series of pullbacks, but, presently, price action is sideways. Given the longer-term technical outlook and the order flow context, any northward move is likely to be temporary in nature. I am more bearish than bullish EURUSD, but as a swing trader I will await a pullback to an area of value or what price action does in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4_September 27, 2020.png Size: 45 KB


I may be wrong. Trade safe and prosper.

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