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Weekly Top-Down Technical Analyses

  • #1,701
  • May 14, 2023 3:33pm May 14, 2023 3:33pm
EURUSD Weekly Technical Outlook

EURUSD market operation is in a bearish mode. On the weekly time frame, market operation printed a bearish candlestick last week in rejection of the 1.09300/1.10500 horizontal resistance zone (purple). The dominant technical structure is still bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 13 KB


EURUSD price action on the daily tie frame is bearish. However, price action is presently tackling the 1.08480 minor horizontal support and we may not see a bearish drive in the early part of the week.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 12 KB


EURUSD price action on the H4 time frame is bearish but there is a decline in southward momentum as price action tackles the 1.08480 horizontal support. We can expect a southward liquidity sweep to an area of value, but a northward market engineering is also probable. Nevertheless, the dominant technical structure is bearish. Therefore, a northward market engineering to an area of value (e.g., a market imbalance) would offer a feasible sell trading opportunity.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,702
  • May 21, 2023 1:59pm May 21, 2023 1:59pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame is in a bearish mode. The last few weeks saw a technical rejection of the 2033.100/2049.870 major horizontal resistance zone (purple). Last week, the market operation printed a bearish continuation candlestick that surged into the 1962.15/1927.90 horizontal support zone (green) before retracing.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 14 KB


XAUUSD price action on the daily time frame went sideways towards the end of last week as it made a southward drive into the 1962.15/1927.90 horizontal support zone (green) before retracing. We can expect a southward continuation during the large part of this week as price action attempts a re-test of the lower part of the 1962.15/1927.90 horizontal support zone (green) seen on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 13 KB


The technical impulse of XAUUSD price action on the H4 time frame is more favorably bearish. Although we cannot rule out a northward corrective move, bears are favoured to make further gains as they attempt a re-test of the lower part of the 1962.15/1927.90 horizontal support zone (green) seen on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 14 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,703
  • May 21, 2023 2:21pm May 21, 2023 2:21pm
USDJPY Weekly Technical Outlook

USDJPY market operation is technically bullish. On the weekly time frame, USDJPY market operation printed a bullish candlestick last week that broke above the 136.390 resistance that has been in place for several weeks. We can expect further northward market engineering to target the next horizontal barrier, which is at the 140.400 area (blue).

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly.png Size: 12 KB


Although USDJPY price action on the daily time frame is sideways, the dominant technical structure is bullish. We can expect further bullish ambition to target the next technical barrier at the 140.400 area (blue). In the circumstance, any southward move would be corrective in nature.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 13 KB



USDJPY technical impulse on the H4 time frame favours bulls more than bears. Although there is presently a decline in northward momentum and we may see a southward liquidity sweep to an area of value such as the 136.900 area (sandybrown), bulls would regain market control.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,704
  • May 21, 2023 3:07pm May 21, 2023 3:07pm
GBPUSD Weekly Technical Outlook

The southward mode of GBPUSD market operation paused last week. Meanwhile, on the weekly time frame, market operation continues to tackle the 1.26170/1.23490 horizontal resistance zone (purple), which incorporates the 61.8 Fib retracement of the recent bearish swing.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 15 KB


GBPUSD price action on the daily time frame turned sideways as it navigates the 61.8 Fib retracement area of the recent bearish swing. The area is proximal to the lower boundary of the 1.26170/1.23490 horizontal resistance zone (purple), seen on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 15 KB


Recent technical impulse on the GBPUSD price on the H4 time frame favours bears more than bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,705
  • May 21, 2023 3:29pm May 21, 2023 3:29pm
EURUSD Weekly Technical Outlook

EURUSD market operation is still in a bearish mode. On the weekly time frame, market operation printed a bearish continuation candlestick last week. We can expect further southward move; the 1.05100 horizontal support area (green) is a potential target for bearish ambition.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 13 KB


EURUSD price action on the daily time frame is bearish. Although bulls are presently challenging the southward move, the technical structure is bearish. Further southward drive may target the 1.05100 horizontal support area (green).

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 15 KB


EURUSD price action on the H4 time frame is technically disposed southward. Recent technical prints favour further southward market engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,706
  • May 28, 2023 1:55pm May 28, 2023 1:55pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame is bearish. Market operation printed a bearish continuation candlestick last week which surged to the 1962.150/1927.900 horizontal support zone (green).

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 14 KB


XAUUSD price action on the daily time frame turned sideways after a bearish surge to the lower part of the 1962.150/1927.900 horizontal support zone (green) seen on the weekly time frame. The recent technical impulse favours bears more than bulls.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 12 KB


XAUUSD price action on the H4 time frame is in a bearish technical structure. Presently, it is navigating the 1962.150/1927.900 horizontal support zone (green) seen on the weekly time frame. Any bullish move would be corrective.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 14 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,707
  • May 28, 2023 2:23pm May 28, 2023 2:23pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame is bullish. A bullish continuation candlestick was printed last week. Market operation is presently at the 140.500 horizontal resistance area nut there is ample room for further northward market engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly.png Size: 12 KB


USDJPY price action on the daily time frame is bullish. Presently it is tackling the minor 140.500 horizontal resistance area. Nevertheless, as the dominant technical structure is favorably bullish, we may see further northward move. A medium-term target of bullish ambition is the 143.500/145.330 horizontal resistance zone (purple).

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 14 KB


USDJPY price action on the H4 time frame is bullish. Although there was a bearish challenge in the last H4-session on Friday, bulls are technically favoured to produce a northward momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,708
  • May 28, 2023 3:05pm May 28, 2023 3:05pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the weekly time frame continues a southward disposition. A bearish continuation candlestick was printed last week. A main challenge to further southward move would be at the 1.05100 horizontal support zone (green).

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 13 KB


Although EURUSD price action on the daily time frame is experiencing a decline in bearish momentum, technicals still favour a southward continuation. The 1.05100 area (green) is the next main horizontal support.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 12 KB


EURUSD price action on the daily time frame is in a bearish technical structure. We can expect further southward move to target initially the 1.05100 horizontal support zone (green) seen on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 14 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,709
  • May 28, 2023 3:09pm May 28, 2023 3:09pm
I agree 100% with you on Xauusd.
  • #1,710
  • May 28, 2023 3:37pm May 28, 2023 3:37pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame has not been able to produce a significant bearish continuation candlestick in the last two weeks. This indicates that bulls are resisting further bearish drive as market operation navigates the 1.23490 area, which aligns with the 61.8 Fib area of the recent bearish swing.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 15 KB


GBPUSD price action on the daily time frame turned sideways as it tackles the lower boundary of the significant 1.23490/1.26170 horizontal resistance zone seen on the monthly time frame. Although we may still see further bullish challenge, the dominant technical structure is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 15 KB


GBPUSD price action on the H4 time frame is presently sideways. However, as the dominant trading range is bearish, we can expect bearish continuation, perhaps, after a shake out of weak hands.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,711
  • Jun 4, 2023 2:31pm Jun 4, 2023 2:31pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the monthly time frame is bearish. In May, market operation printed a relatively long-shadow bearish candlestick that rejected the 2033.100/2049.870 major horizontal resistance zone (purple). Its relatively moderate tail dipped into the 1962.150/1927.900 horizontal support (green).

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDMonthly.png Size: 13 KB


XAUUSD market operation on the weekly time frame is bearish. Presently, it is retesting the 1962.150/1927.900 horizontal support (green) seen on the monthly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 14 KB


The recent technical pattern of XAUUSD price action, with bearish break of structure and a bearish technical impulse restored on Friday, favours bears than bulls. Technically, any northward move would be corrective, giving way to a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,712
  • Jun 4, 2023 2:54pm Jun 4, 2023 2:54pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the monthly time frame is bullish. In May, market operation printed a bullish candlestick that broke above the 133.395/136.390 consolidation zone (green).

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYMonthly.png Size: 12 KB


USDJPY market operation on the weekly time frame is bullish but presently experiencing a bearish pushback. Technically, as the market structure is bullish we can expect further northward market engineering towards the area of market imbalance (purple) created by the relatively big bearish candlestick on the left side of the chart.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly.png Size: 12 KB


USDJPY price action on the daily time frame is bullish. There was a bearish dip in the early part of last week as bullish price action approached the next area of structure, the 141.180/142.190 area (blue). With the bullish print on Friday, we may see a continuation of northward move in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,713
  • Jun 4, 2023 3:17pm Jun 4, 2023 3:17pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the monthly time frame is bearish. Market operation printed a bearish candlestick in May, which created a supply at the 1.10765/1.07968 zone (purple). However, there is a decline in bearish momentum.

Attached Image (click to enlarge)
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EURUSD market operation on the weekly time frame is bearish. However, the bearish continuation candlestick printed two weeks ago was not followed-through last week as market operation printed an indecision candlestick. Presently, market operation is still navigating the 61.8 Fib zone of the recent bearish swing.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 15 KB


Although EURUSD price action on the daily time frame is presently sideways, the technical structure is bearish. Price action is navigating the 61.8 Fib zone of the recent bearish swing on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,714
  • Jun 4, 2023 3:36pm Jun 4, 2023 3:36pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation is in a bearish technical structure on the monthly time frame. However, it is in a consolidation mode within the 61.8 Fib retracement area of the recent bearish swing.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 13 KB


GBPUSD market operation on the weekly time frame is consolidating within the 61.8 Fib retracement area of the recent bearish swing.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 15 KB


GBPUSD price action on the daily time frame is presently sideways. It is tackling the 1.26170/1.23490 major horizontal resistance zone (purple) found on the monthly timeframe. The dominant technical structure is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,715
  • Jun 11, 2023 2:21pm Jun 11, 2023 2:21pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame assumed a bullish mode last week as it retested the upper boundary of the 1962.150/1927.900 horizontal support zone (green).

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 14 KB



XAUUSD price action on the daily time frame is in consolidation. Although the preceding technical impulse is bearish, price action is operating within the 1962.150/1927.900 horizontal support zone (green) and we may still see some northward market engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 12 KB



XAUUSD price action on the H4 time frame is sideways but the technical impulse is favorably bearish. As price action is at the upper boundary of the 1962.150/1927.900 horizontal support zone (green), seen on the weekly time frame, we cannot rule out a northward liquidity grab before a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 15 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,716
  • Jun 11, 2023 2:36pm Jun 11, 2023 2:36pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame assumed a bearish mode after a bullish attack on the 140.550/142.200 horizontal resistance zone (blue). However, the candlestick printed last week is doji-like; technically indicating that bulls are still influential in the market.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly.png Size: 12 KB



USDJPY price action on the daily time frame is sideways. There was a bullish charge at the 140.550/142.200 horizontal resistance zone (blue) before a bearish pushback. Technically, we cannot rule out further northward drive of price action.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 13 KB



USDJPY price action on the H4 time frame is presently sideways. But as the preceding technical impulse is bullish, we may see further northward drive. Any bearish dip would give way to a bullish rotation.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 12 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,717
  • Jun 11, 2023 3:08pm Jun 11, 2023 3:08pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame issued a bullish print last week. Nevertheless, it is still tackling the 1.23490/1.26170 horizontal resistance zone (purple); a zone which has remained intact for several weeks. The dominant technical structure is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDWeekly.png Size: 15 KB



GBPUSD price action is in a bullish mode, but it is facing increasing bearish challenge as it tackles the upper boundary of the 1.23490/1.26170 major horizontal resistance zone (purple); a zone which has remained intact for several weeks. Although the dominant technical structure is bearish, as a medium-term swing trader, I will not be trading this pair until I see an upward liquidity grab at an area of value followed by a bearish change of character on the H4/H1 time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 12 KB



GBPUSD price action on the H4 time frame is in a bullish mode but the dominant technical structure is bearish. Nevertheless, we may still see further northward price action in the early part of this week before a southward rotation.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 13 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,718
  • Jun 11, 2023 3:41pm Jun 11, 2023 3:41pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the weekly time frame is sideways. However, it is still operating in the 61.8 Fib zone of the dominant bearish swing. Last week’s technical print was bullish but was relatively small.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDWeekly.png Size: 15 KB



The 1.07900 area (blue) has continued to serve as horizontal resistance on the daily time frame. The bullish print of last Thursday failed to break above the area, and bears resisted further upward move with a bearish print on Friday. Technically, price action is still operating in a bullish retracement zone traceable to the monthly time frame. We may still see further northward corrective move before a southward rotation.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDDaily.png Size: 13 KB



EURUSD price action on the H4 time frame is presently sideways but the most recent technical impulse was bullish. Nevertheless, as the dominant technical structure is bearish, any northward drive would be a market engineering to an area of value and would give way to a bearish turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH4.png Size: 12 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,719
  • Jun 18, 2023 2:10pm Jun 18, 2023 2:10pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame is ranging within the 1962.150/1927.900 horizontal support zone (green). There was a bearish surge into the zone four weeks ago before bulls resisted a breakdown of the zone. Market operation printed a dragon fly doji-like candlestick in the area last week; its relatively long tail technically portends further southward market engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 14 KB


XAUUSD price action on the daily time frame is ranging within the 1962.150/1927.900 horizontal support zone (green). However, the preceding technical impulse is bearish. A possible target of further bearish charge is the 1895.400/1915.300 demand zone (blue).

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 13 KB


XAUUSD price action on the H4 time frame is sideways at the upper boundary of the 1962.150/1927.900 horizontal support zone (green). Recent technical prints favour a southward liquidity engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,720
  • Jun 18, 2023 2:54pm Jun 18, 2023 2:54pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame is bullish. Presently, it is at the upper part of the 140.550/142.200 horizontal resistance zone (blue).

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYWeekly.png Size: 12 KB



USDJPY price action on the daily time frame is bullish. However, it is tackling the 140.550/142.200 horizontal resistance zone (blue) seen on the weekly time frame.


Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 13 KB



USDJPY price action on the H4 time frame is in a bullish mode. Although we may still see a further northward move, we cannot rule out a bearish correction as price action tackles the upper part of the 140.550/142.200 horizontal resistance zone (blue) seen on the weekly time frame.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 12 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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