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

  • #1,401
  • Dec 19, 2021 3:08pm Dec 19, 2021 3:08pm
GBPUSD Weekly Technical Outlook

GBPUSD market is in a bearish mode. On the monthly time frame, the November market operation printed a bearish candlestick that broke down an area of consolidation that had been in place for two months. Meanwhile, the December interim market operation is bearish.

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GBPUSD market operation on the weekly time frame is presently sideways in a technically bearish market environment. The 1.30370/1.28900 weekly demand zone (green) is still about 200 pips below the present location of market operation, and we may see further bearish move this week. But last week’s indecision candlestick print is suspect.

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GBPUSD price action on the daily time frame is retesting the significant 1.32200/1.31000 daily demand zone (blue) that has been in place since November 2020. Last Friday, price action printed a bearish engulfing candlestick to counter a bullish retracement from the zone. Should bears maintain their pressure, we may see a southward continuation within the zone. The 1.30370/1.28900 zone (green) is a weekly demand and could be a medium-term target of bears. The 1.34640/1.35100 area (magenta) is a daily supply.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,402
  • Dec 19, 2021 3:37pm Dec 19, 2021 3:37pm
EURUSD Weekly Technical Outlook

The EURUSD market is bearish. On the monthly time frame, after breaking down the horizontal support around 1.17300 (purple) market operation has printed bearish continuation candlesticks since October.

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On the weekly time frame, bearish technical structure and order flow support a southward continuation. Last week, market operation printed a bearish continuation candlestick that broke down an area of consolidation which has been in place for three weeks, and, presently, it is retesting the 1.12280/1.11660 weekly demand zone (green). We may not see further bearish drive until market operation has broken down the zone and so we should await what happens by Monday close. The 1.15150/1.16250 zone (red) is the operating weekly supply.

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EURUSD price action on the daily time frame is sideways as it tackles the weekly demand zone around 1.12280/1.11660 (green). The 1.15680/1.16110 daily supply (magenta) is nestled in the1.15150/1.16250 zone weekly supply (red), which is a strong confluence favouring a bearish market structure. Although, technically, we are in a bearish market environment, we may see a bullish pullback to an area of value in the early part of this week before further bearish drive.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,403
  • Dec 26, 2021 2:57pm Dec 26, 2021 2:57pm
AUDUSD Weekly Technical Outlook

AUDUSD market operation is bullish. On the weekly time frame, it is making a northward retracement of a bearish swing that began eight weeks ago. The 0.74530/0.75580 area (purple) is the operating weekly supply. The bullish candlestick printed last week broke out of an area of consolidation, after a retest of the 0.71320/0.69990 weekly demand zone (blue), and bulls may continue exerting their pressure in the market in the early part of this week. But pattern traders may be wary of the mid-line of the extended ‘M’ pattern, which is near the present location of market operation, and potentially a technical resistance to bullish drive.

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On the daily time frame, AUDUSD price action is presently sideways after a bullish run that began last week Tuesday. Price action is navigating a horizontal resistance area and there are a few such areas of resistance nearby, but technicals favour bulls more than bears. The 0.73210/0.73700 daily supply (red) may be a target of any bullish liquidity drive.

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The technical structure on the H4 time frame is bullish, and recent order flow favours bulls more than bears.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,404
  • Dec 26, 2021 3:07pm Dec 26, 2021 3:07pm
USDCAD Weekly Technical Outlook

USDCAD market operation on the weekly time frame printed a bearish candlestick last week after printing a relatively big bullish candlestick two weeks ago. Technically, bulls are still more influential than bears. But as market operation is just a few pips below the 1.30280 horizontal resistance (purple), we may soon see a decline in bullish momentum.

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On Thursday, USDCAD price action on the daily time frame retested the 1.28300/1.27610 demand zone (green) but, on Friday, it printed a bullish candlestick in the area. However, as the Friday bullish print is rather miniature, we should await what price action does on Monday. The technical rising channel (blue) favours bulls and price action is presently near the channel support trendline, a situation technically favourable to bullish initiative.

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USDCAD price action on the H4 time frame is consolidating within the 1.28300/1.27610 demand zone (green) in the context of a rising channel (blue) seen on the daily time frame. But as the most recent technical impulse has been bearish, we may see a brief southward liquidity engineering before a northward turnaround.

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I may be wrong. Trade safe and prosper.


KP
Do your homework, follow the footprints of smart money
  • #1,405
  • Dec 26, 2021 3:15pm Dec 26, 2021 3:15pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame is bullish in the context of a bearish environment. The 1.37280/1.38400 area (purple) is the operating supply. Presently, market operation is tackling the 1.33950 horizontal resistance.

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GBPUSD price action on the daily time frame is experiencing bearish pressure after a bullish drive from the 1.32430/1.31730 demand zone (green) on Tuesday. Should bears succeed in their pressure, we may see a southward retest of the demand zone before a bullish market engineering to an area of value such as the 1.36080/1.36770 area (blue). We should note, however, that any such bullish move is likely to be temporary as the technical market structure still favours bears.

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GBPUSD technical structure on the H4 time frame is bullish in a generally bearish environment. Meanwhile, price action is consolidating but we may see further bullish liquidity engineering in the early part of this week before a bearish turnaround.

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I may be wrong. Trade safe and prosper.


KP
Do your homework, follow the footprints of smart money
  • #1,406
  • Dec 26, 2021 3:41pm Dec 26, 2021 3:41pm
EURUSD Weekly Technical Outlook

EURUSD market operation is in a bullish mode. On the weekly time frame, five weeks ago, a bearish EURUSD market operation retested the 1.11630/1.12310 demand zone (blue) and went sideways for three weeks before rejecting the zone with a bullish candlestick print last week. However, the general technical environment is still bearish, and we may see a southward rotation after a northward pullback to an area of value.

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On the daily time frame, EURUSD price action went sideways after rejecting the 1.11630/1.12310 demand zone (blue) seen on the weekly time frame; however, the technical structure is still bearish. Nevertheless, we may see further northward move before a southward turnaround. This situation may not be as straight forward, as we cannot rule out a bearish dive for liquidity grab first in the early part of Monday. At any rate, as a swing trader, I like to see an htf zonal setup first and I will await what price action does by Monday close.

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EURUSD price action on the H4 time frame is bearish. Apparently, it is attempting a retest of the 1.11630/1.12310 demand zone (blue) seen on the weekly time frame. We may see further bearish move in the early part of Monday. However, this may give way to a bullish price action for liquidity engineering as recent order flow favours bulls more than bears. Nevertheless, as the general technical structure is bearish, any bullish drive would be temporary in nature.

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

KP
Do your homework, follow the footprints of smart money
  • #1,407
  • Jan 2, 2022 2:57pm Jan 2, 2022 2:57pm
USDJPY Weekly Technical Outlook

USDJPY market operation is bullish. On the monthly time frame, the 111.02/108.82 (blue) is a significant demand zone. The December 2021 market operation printed a bullish candlestick that broke above an area of consolidation which was in place between October and November.

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On the weekly time frame, market operation has made a bullish run over the past four weeks. It is now retesting the horizontal resistance at the 115.30/116.36 area (purple).

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USDJPY price action on the daily timeframe is retesting a daily supply zone at the 115.10/115.52 area (red), an area nestled in the 115.30/116.36 horizontal resistance area seen on the weekly time frame. Although recent price action produced a compression of bullish candlesticks as it tackles the area, we may still see a northward market engineering for liquidity grab in the early part of this week.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,408
  • Jan 2, 2022 3:12pm Jan 2, 2022 3:12pm
USDCAD Weekly Technical Outlook

USDCAD market operation is in a bearish mode. On the monthly time frame, the December 2021 market operation produced a bearish candlestick in opposition to the bullish print of November. Technically, the market environment is bearish. The 1.22900/1.19900 area is monthly demand zone.

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USDCAD market operation on the weekly time frame printed a bearish continuation candlestick last week as market operation broke below an area of consolidation that has been in place for four weeks. Further bearish run may see a retest of the 1.24650/1.23320 weekly demand zone (green).

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USDCAD price action on the daily time frame is in a bearish mode. It is tackling the horizontal reaction zone around 1.26340. The 1.27820/1.28280 area (red) is the supply zone. Any bullish corrective move in the early part of the week may incentivize bears for a southward drive as the bigger time frame’s technical structure is bearish.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,409
  • Jan 2, 2022 3:25pm Jan 2, 2022 3:25pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation is in a bullish mode. On the monthly time frame, in December 2021, market operation printed a bullish candlestick as opposed to the relatively bigger bearish candlestick printed in November. Technically, in December, market operation made a retest of the 1.34600 previous horizontal support area (purple) broken down in November.

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On the weekly time frame, last week, market operation printed a bullish candlestick to retest a previous horizontal support area at the 1.34770/1.35800 zone (red). Although, technically, market operation is still in a bearish environment, we may still have a northward market engineering for liquidity, perhaps, retesting the resistance trendline of an active falling channel (blue).

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On the daily time frame, price action is now retesting the 1.34770/1.35800 supply zone (red) and near the resistance trendline of the falling channel (blue) seen on the weekly time frame, but we may still have a northward market engineering for liquidity grab before a southward turnaround. Technically, we are in a bearish market environment. The 1.32410/1.31750 area (green) is a demand zone.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,410
  • Jan 2, 2022 3:44pm Jan 2, 2022 3:44pm
EURUSD Weekly Technical Outlook

EURUSD market operation is bullish in a technically bearish environment. On the monthly time frame, the December market operation printed a bullish retracement candlestick after three months of bearish drive that broke down the 1.17080 horizontal support area flipping it as resistance. The 1.17500/1.19240 area (purple) is a monthly supply zone.

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EURUSD market operation on the weekly time frame is bullish, making a northward retracement of a bearish swing from the 1.16140/1.15190 supply zone (red). We may still see further bullish move but, technically, the market environment is bearish. The 1.12280/1.16130 area (blue) is weekly demand zone.

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On the daily time frame, EURUSD price action is making a bullish retracement in a technically bearish environment. Presently, price action is tackling the 1.13840 horizonal resistance area. But for any buy trade to be feasible, we should see a bearish drop to an area of value such as the 1.12280/1.16130 demand zone (blue), seen on the weekly time frame, or near it, followed by a bullish zone rejection setup.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,411
  • Jan 9, 2022 2:40pm Jan 9, 2022 2:40pm
USDJPY Weekly Technical Outlook

USDJPY market operation is bullish. On the monthly time frame, the bullish candlestick printed in December 2021 broke above the 113.920 horizontal resistance. The interim market operation in January 2022 is in a bullish mode. The 113.920/112.500 area (green) is a monthly demand zone.

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On the weekly time frame, the last three weeks have seen the printing of bullish continuation candlesticks, leaving a weekly demand zone nestled in the 113.920/112.500 monthly demand zone (green). Although technicals favour bulls more than bears, the bullish momentum has declined as indicated in the relatively long ‘top’ shadow on the bullish candlestick printed last week.

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Price action on the daily time frame is bearish as it retraces from a bullish run that started on December 22, 2021. We may see a retest of a value area before a northward turnaround. Such an area is the bullish order block around 114.490/114.220 (blue).

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I may be wrong. Trade safe and prosper.


KP
Do your homework, follow the footprints of smart money
  • #1,412
  • Jan 9, 2022 3:00pm Jan 9, 2022 3:00pm
USDCAD Weekly Technical Outlook

USDCAD market operation is sideways in a bearish market environment. On the monthly time frame, bearish market operation broke down a horizontal support around the 1.27900 area (blue) in March 2021. A bullish retracement was initiated in June 2021, and this led to several retests of the 1.27900 former horizontal support since then, the first one began in July 2021. A relatively big bullish candlestick was printed to retest the area in November 2021, which indicated the intention of bulls to breach the resistance, but this was countered by the bearish print in December 2021, technically flipping the area as resistance. Meanwhile, market operation in January 2022 is below the area.

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On the weekly time frame, technicals favour bears more than bulls. Presently, market operation is tackling the 1.26400 horizontal support area, where, last week, it printed a bearish pinbar. Technically, we may see further bearish move this week.

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Price action on the daily time frame is bearish. On Thursday, it retested the 1.27800/1.28320 supply zone (red) and rejected it, and there was a bearish follow-up on Friday. Presently, price action is located at a horizontal support area around 1.26400, and a bearish breakdown of the area may see a drive towards the 1.25430/1.25030 demand zone (green).

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


KP
Do your homework, follow the footprints of smart money
  • #1,413
  • Edited 3:30pm Jan 9, 2022 3:15pm | Edited 3:30pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation is in a bullish mode under a technically bearish environment. On the monthly time frame, in November 2021, market operation broke down the horizontal support around the 1.34600 area, leaving a supply zone at the 1.34600/1.36940 area (purple). Market operation in December 2021 made a retracement to retest the supply zone. Presently, the interim market operation in January 2022 is in the supply zone.

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On the weekly time, a bearish swing that began eleven weeks ago created a supply zone at the 1.37000/1.38400 area (red). Market operation is presently making a bullish retracement towards the supply zone. We may still have further bullish market engineering in the early part of this week, but technicals favour a southward rotation thereafter.

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Price action on the daily time frame is making a bullish retracement to retest the 1.36143/1.36900 daily supply zone (magenta). It is located a few pips below it, and we may see further bullish market engineering, in the early part of this week, which may extend to the nearby 1.37000/1.38400 weekly supply zone (red) before a southward turnaround.

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

KP
Do your homework, follow the footprints of smart money
  • #1,414
  • Jan 9, 2022 3:41pm Jan 9, 2022 3:41pm
EURUSD Weekly Technical Outlook

EURUSD market operation is sideways. On the monthly time frame, a bearish drive in September 2021 broke down the horizontal support at the 1.17080 area (purple). This was followed by a sideway of market operation before further bearish drive in November 2021. The December 2021 market operation was a bullish retracement but was of little effect. Presently, the January 2022 market operation is bearish but limited in momentum. Generally, technicals favour bears more than bulls, but there is little directional momentum.

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EURUSD market operation on the weekly time is in a sideway mode under a bearish environment. Eight weeks ago, a bearish market operation surged to the 1.12280 horizontal support (green), but went sideways in the area for five weeks. Two weeks ago, bulls effected a breakout from the area of consolidation but there was no follow through as market operation printed an indecision candlestick last week. Technicals and order flow favour bears more than bulls, but we cannot rule out a northward market engineering for liquidity before a feasible bearish turnaround.

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EURUSD price action on the daily time frame is in a bullish corrective mode under a technically bearish environment. Price action retested the 1.12500/1.11796 daily demand zone (blue) a couple of times before moving a few pips above it. It then turned sideways but the bullish candlestick printed last week Friday broke above an area of consolidation that had been in place for three days. We may see northward market engineering towards the 1.15610/1.16110 daily supply zone (magenta) before a southward rotation.

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


KP
Do your homework, follow the footprints of smart money
  • #1,415
  • Jan 16, 2022 2:46pm Jan 16, 2022 2:46pm
USDJPY Weekly Technical Outlook

The USDJPY market operation is in a bullish mode. On the weekly time frame, last week, market operation made a bearish retest of the 113.570/112.570 weekly demand (green) but failed to close within it; rather it left a relatively long tail at its proximal boundary. Apparently, there is still bullish pressure in the market, and we may see further northward liquidity engineering.

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On the daily time frame, last week Friday, price action retested a daily demand at the 113.700/113.290 zone (blue) and rejected it with a bullish pinbar. The zone is nestled in the 113.570/112.570 weekly demand (green) and susceptible to further bearish market engineering before a bullish turnaround.

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On the H4 time frame, after a bearish price action that retested the 113.700/113.290 daily demand zone (blue), price action turned northward, leaving an H4 demand zone at the 113.900/113.480 area (light green). We may see a bearish market engineering before any further bullish drive. In the same vein, bears may seize on any bullish weakness to drive a retest of the 113.700/113.290 daily demand zone (blue) for liquidity grab.

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

KP
Do your homework, follow the footprints of smart money
  • #1,416
  • Jan 16, 2022 3:00pm Jan 16, 2022 3:00pm
USDCAD Weekly Technical Outlook

USDCAD market operation is in a bearish mode. On the weekly time frame, after six weeks of consolidation, last week, market operation retested the 1.24700/1.23270 demand zone (green) but failed to close within it. Rather, it printed a long-tailed bearish candlestick just at the upper boundary of the zone. This indicates that there is still bullish pressure in the market.

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On Wednesday last week, price action on the daily time frame retested the 1.25400/1.24950 daily demand zone (blue) but rejected it with a bullish pinbar on Thursday. This was followed with a bullish continuation candlestick on Friday. But as the technical structure is still bearish, any bullish move would be temporary in nature. The 1.24700/1.23270 area (green) is a weekly demand zone.

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On the H4 time frame, price action made a bullish rejection of the 1.25400/1.24950 daily demand zone (blue) and created a short-term demand at the 1.24900/1.24700 zone (dark orange). Although the last H4-session price action on Friday printed a bearish candlestick, we may still see northward market engineering for liquidity grab before a feasible southward continuation.

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


KP
Do your homework, follow the footprints of smart money
  • #1,417
  • Jan 16, 2022 3:20pm Jan 16, 2022 3:20pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation is in a bullish mode in a technically bearish market. On the weekly time frame, market operation is retesting the 1.36940/1.38250 weekly supply zone (purple). Last week, a bullish drive into the zone ended up with the printing of a bullish candlestick with a ‘top’ shadow. This technically indicates that bears are resisting the bullish drive into the zone. The 1.32470/1.31560 zone (green) is weekly demand zone.

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Price action on the daily time frame, produced a morning star pattern at the 1.36940/1.38250 weekly supply zone (purple) towards the end of last week. Technically, this portends that a bearish mode is imminent, but price action is tackling a minor horizontal support and we may still have northward liquidity engineering in the early part of this week before a southward turnaround.

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On the H4 time frame, towards the end of last week, price action retested the 1.36940/1.38250 weekly supply zone (purple) and broke below it, creating a short-term supply at the 1.37120/1.37400 area (magenta). But the last H4-session price action on Friday produced a bullish candlestick in retracement. Should bulls maintain their pressure, we may see northward market engineering to retest the 1.37120/1.37400 area (magenta) or even the nearby longer-term supply at the 1.37750/1.38010 area (red) before a southward rotation. I will await what price action does upon Monday close.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,418
  • Jan 16, 2022 3:45pm Jan 16, 2022 3:45pm
EURUSD Weekly Technical Outlook

EURUSD market is technically bearish, but the market operation is in a bullish mode. On the weekly time frame, bullish market operation is making a retracement towards the 1.15080/1.16180 weekly supply zone (red). Last week, market operation printed a bullish candlestick that broke out of a consolidation that had been in place for two weeks. But the candlestick closed with two equally long shadows on both ends, indicating a market indecision. Presently, market operation is about 90 pips below the 1.15080/1.16180 weekly supply zone (red).

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Price action on the daily time frame produced a morning star formation between Wednesday and Friday last week. However, it is near the 1.13820 horizontal support area (green) and we may see northward liquidity engineering before a feasible southward turnaround.

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After a bullish retracement, on Wednesday last week, price action on the H4 time frame turned sideways and remained so till early Thursday, and then broke down a horizontal support to create a short-term supply at the 1.14630/1.14830 area (magenta). But the last H4-session on Friday saw a bullish print in retracement. Although the market condition is generally bearish, the order flow context is still bullish, and we may see further northward market engineering before a southward turnaround.

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

KP
Do your homework, follow the footprints of smart money
  • #1,419
  • Jan 23, 2022 1:54pm Jan 23, 2022 1:54pm
USDJPY Weekly Technical Outlook

USDJPY market operation is bearish. On the weekly time frame, after a bullish market operation that retested the 116.00 horizontal resistance area three weeks ago, there was a bearish rejection of the area a week later, creating a supply at the 115.00/116.35 zone (purple). Last week saw a retest of the zone by market operation, but it was rejected with the printing of a long upper-shadow bearish continuation candlestick. Meanwhile, market operation is tackling the 113.60/112.53 demand zone (green).

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USDJPY price action on the daily time frame is bearish. Presently, it is tackling the 113.60 horizontal support area (green) but the order flow context favours bears more than bulls, and we may see further bearish move in the early part of this week. The 113.00/112.50 area (blue) is the daily demand zone.

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The order flow context on the H4 time frame favours bears more than bulls. Presently, price action is tackling the 113.60 horizontal support area (green) seen on the daily time frame. The last two H4 sessions on Friday were sideways, indicating a decline in bearish momentum. In the circumstance, we may see a sideway of price action, or even a northward pullback, in the early part of this week before a southward continuation.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,420
  • Jan 23, 2022 2:57pm Jan 23, 2022 2:57pm
USDCAD Weekly Technical Outlook

USDCAD market operation is in a bullish mode under a technically bearish market environment. On the weekly time frame, two weeks ago, a bearish market operation broke below an area of consolidation at the 1.26134 area (purple). Last week, market operation printed a bullish inside bar to the bearish candlestick of two weeks ago. Should bulls maintain their pressure, we may see further northward move in the early part of this week. But a bullish misstep may incentivize bears to push for a southward turnaround.

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Price action on the daily time frame is making a bullish retracement of a bearish swing that retested the 1.25400/1.25000 demand zone (blue). We may see further bullish move to an area of value before a southward rotation. The wicky candlesticks printed at the 1.25400/1.25000 demand zone (blue) in the last seven days may incentivize bearish liquidity engineering.

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Price action on the H4 time frame is in a bullish retracement of a bearish technical swing. Any further bullish move would be temporary in nature as the general technical environment on the higher time frames (e.g., W1 & D1 tfs) is bearish.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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