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Weekly Top-Down Technical Analyses

  • #1,761
  • Aug 13, 2023 3:01pm Aug 13, 2023 3:01pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame is in a bullish mode. Last week, the market operation printed a bullish candlestick that broke above the area of consolidation that has been in place for three weeks.

Attached Image (click to enlarge)
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USDJPY price action on the daily time frame is bullish. As it is presently near the 145.600/146.600 supply area (red), we may see bulls incentivized for further northward liquidity engineering, which may even target a higher-level supply area before a bearish correction. The dominant trend is bullish.

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


The immediate technical impulse of USDJPY on the H4 time frame is bullish. Nevertheless, we cannot rule out a southward liquidity sweep to shake out weak hands before a northward continuation.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 16 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,762
  • Aug 13, 2023 3:08pm Aug 13, 2023 3:08pm
EURUSD Weekly Technical Outlook

EURSD market operation on the weekly time frame is retesting the 1.10000/1.0830 demand zone (green). The zone was retested last week, the third time in three weeks. Last week’s candlestick closed lower than the previous two weeks’ prints, and we may see further southward push in the early part of this week. The zone aligns with the 50-fib retracement of the recent bearish swing.

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


EURUSD price action on the daily time frame is ranging at the upper part of the 1.10000/1.0830 demand zone (green) seen on the weekly time frame. The bearish print of Friday could herald a bearish follow-through to the bearish pinbar printed on Thursday. Should this be the case we may see southward drive to the lower part of the zone. Technically, the zone aligns with the 50-fib retracement of the recent bearish swing on the weekly time frame.

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


The recent technical pattern of EURUSD price action on the H4 time frame apparently made a northward liquidity sweep in the latter part of last week. This would prepare the ground for a southward market engineering to an area of value, particularly as the dominant trend is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 16 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,763
  • Aug 13, 2023 3:38pm Aug 13, 2023 3:38pm
GBPUSD Weekly Technical Outlook

The southward push of GBPUSD market engineering on the weekly time frame was limited last week as bulls resisted such move, leading to the printing of an indecision candlestick. However, we may still see further bearish attempts to drive below the 1.26930 mini horizontal support.

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


Recent candlestick prints of GBPUSD on the daily time frame, with relatively pronounced top wicks, favour further southward move. Should this happen, we may see a retest of the 1.25500/1.24800 demand zone (green).

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


The technical impulse of GBPUSD price action on the H4 time frame is favorably bearish. Thus, although price action is presently sideways, we would see a bearish continuation.

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
  • #1,764
  • Aug 20, 2023 2:45pm Aug 20, 2023 2:45pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame is bearish. The bearish candlestick printed last week broke below the 1901.50 horizontal support area (blue) which had been in place for eight weeks. Although this technically favours bears, we may still have some bullish corrective move before a significant bearish drive.

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 breakdown of the 1901.50 horizontal support area (blue) which had been in place for eight weeks. Although we may still have a bullish correction, the technical structure favours bears.

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


Although XAUUSD price action on the H4 time frame turned sideways on Friday, the technical impulse and order flow context favour bears. Thus, any northward move would be corrective, giving way to a bearish continuation.

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
  • #1,765
  • Aug 20, 2023 3:02pm Aug 20, 2023 3:02pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame is still bullish. However, last week, as it tackled the 145.600/146.600 horizontal resistance zone (red), bears resisted further bullish drive leading to the printing of a doji-like candlestick.

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


Last week Wednesday, USDJPY price action on the daily time frame retested the 145.600/146.600 horizontal resistance zone (red). However on Thursday and Friday bears stepped in for a southward pushback. Although the technical structure is bullish, we may still see further southward move, perhaps retesting the 144.250. horizontal support area.

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


USDJPY price action on the H4 time frame turned sideways in the latter part of last week after bears pushed back a bullish surge to the 145.600/146.600 horizontal resistance zone (red) seen on the weekly time frame. As the dominant technical structure is bullish, any further southward move would soon give way to a northward turnaround.

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
  • #1,766
  • Aug 20, 2023 3:23pm Aug 20, 2023 3:23pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the weekly time frame is bearish. But, last week, the bearish drive was curtailed by bulls as it surged to the lower boundary of the 1.10000/1.08300 horizontal support zone (green).

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



The EURUSD price action on the daily time frame turned sideways on Friday after a bearish drive to the lower part of the 1.10000/1.08300 horizontal support zone (green) seen on the weekly time frame. Nevertheless, we may still see further bearish drive in the early part of this week.

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



Although the EURUSD price action on the H4 time frame is sideways, the technical impulse favours bears more than bulls.

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
  • #1,767
  • Aug 20, 2023 3:46pm Aug 20, 2023 3:46pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame is sideways. The last two weeks have seen the printing of indecision candlesticks at the 1.27300 area, an area that is within the 78.6/61.8 fib retracement zone of the dominant 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 after bulls pushed back a bearish surge to the 1.27300 area, an area which is within the 78.6/61.8 fib retracement zone of the dominant bearish swing on the weekly time frame. The technical impulse favours bears, and we may soon see a southward turnaround.

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


Although GBPUSD price action on the H4 time frame has turned sideways after bullish correction on Friday, the preceding technical impulse is bearish. Technically, this favours a bearish continuation.

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
  • #1,768
  • Aug 27, 2023 1:38pm Aug 27, 2023 1:38pm
XAUUSD Weekly Technical Outlook

Two weeks ago, XAUUSD market operation on the weekly time frame broke down the 1901.50 horizontal support area (blue). However, last week, bulls pushed back for a northward move that close above the area. Technically, the market operation is in consolidation.

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


Last week Wednesday, XAUUSUS price action on the daily time frame pushed back a bearish breakdown of the 1901.50 horizontal support area (blue) seen on the weekly time frame. However, there was no northward follow-through as price action went sideways on Thursday and Friday. Presently, price action is at a mini-horizontal resistance and the technical impulse favours bears more than bulls. Technically, any further northward move would give way to a southward turnaround.

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


XAUUSD price action on the H4 time frame went sideways after a bullish corrective move to the bearish charge at the 1901.50 horizontal support area (blue) seen on the weekly time frame. The technical structure favours bears but we may still see a northward market engineering for liquidity grab at a value area such as the 19332.36/1927.90 intra-day supply area (magenta) before a bearish rotation.

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
  • #1,769
  • Aug 27, 2023 3:12pm Aug 27, 2023 3:12pm
USDJPY Weekly Technical Outlook

USJPY market operation on the weekly time frame is losing its bullish momentum. Although the technical structure is bullish, market operation has been tackling the 145.600/146.600 horizontal resistance zone (red) since the last two weeks. The bullish candlestick printed last week closed just at the upper part of the boundary but there was no significant bullish momentum.

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


USDJPY price action on the daily time frame is ranging within the 145.600/146.600 horizontal resistance zone (red) seen on the weekly time frame. A bullish break out from the area would likely target the 149.200/150.200 supply zone (purple).

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


Although USDJPY price action on the H4 time frame is presently sideways within the 145.600/146.600 horizontal resistance zone (red), the recent technical pattern of USDJPY apparently showed a southward liquidity sweep below the 145.000 area. Should price action break above the 146.600, we may see further northward drive, which could target the 150.200/149.200 supply zone (purple) seen on the daily 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
  • #1,770
  • Edited 3:35pm Aug 27, 2023 3:18pm | Edited 3:35pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame has declined in bearish momentum as it tackles the 1.25500/1.24800 horizontal support zone (green). The bearish candlestick printed last week failed to penetrate the zone.

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


GBPUSD price action on the daily time frame printed a bearish candlestick on Thursday that broke below the 1.26130 mini-horizontal support area (blue). However, there was no bearish follow-through as price action went sideways on Friday. Presently, price action is approaching a more significant 1.25500/1.24800 horizontal support zone (green) seen on the weekly time frame. Technically, we cannot rule out a bullish corrective move before a bearish continuation.

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


GBPUSD price action on the H4 time frame has gone sideways after a bearish surge below the 1.26130 mini-horizontal support area (blue). As the technical impulse favours bears, any northward move would be temporary.


Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 12 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,771
  • Aug 27, 2023 3:42pm Aug 27, 2023 3:42pm
EURUSD Weekly Technical Outlook

Although EURUSD market operation on the weekly time frame is still disposed bearish, the momentum has waned. The bearish candlestick printed last week had wicks on both ends. Nevertheless, we would see further southward move this week.

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


Although EURUSD price action on the daily time is still bearish, there is a decline in southward momentum. The last five days had seen little directional displacement. Meanwhile, price action is tackling the 1.08300 horizontal support area (green) and we should await how price action handled the area by Monday close.

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


EURUSD price action on the H4 time frame went sideways below the 1.08300 horizontal support area (green). We cannot rule out a bullish pullback, perhaps for liquidity grab, before a southward continuation.

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
  • #1,772
  • Sep 3, 2023 2:51pm Sep 3, 2023 2:51pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the monthly time frame has been sideways within the 1989.70/1901.50 zone (purple) since the bearish rejection of the 1989.70 horizontal resistance area in May 2023. In August, there was a bearish pushback to the bullish charge at the 1989.70 horizontal resistance area in July.

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In the past two weeks, XAUUSD market operation on the weekly time frame has seen a bullish correction of the bearish technical impulse that challenged a breakdown of the technically significant 1901.50 area.

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


XAUUSD price action on the daily time frame turned sideways towards the end of last week after a bullish pushback to the bearish drive that broke down the technically significant 1901.50 area. The technical structure favours bears, and recent technical prints favour a liquidity charge southward, perhaps after a temporary northward liquidity sweep. I remain bearish XAUUSD as I have been for weeks, being a medium-term swing trader.

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,773
  • Sep 3, 2023 3:04pm Sep 3, 2023 3:04pm
USDJPY Weekly Technical Outlook

In August, USDJPY market operation on the monthly time frame continued a bullish disposition with a northward close above the 144.180 horizontal resistance area (red).

Attached Image (click to enlarge)
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USDJPY market operation on the weekly time frame went sideways last week but the technical structure is bullish.

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


USDJPY price action on the daily time frame is consolidating. However, the preceding technical impulse is bullish, which technically favours a bullish continuation.

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
  • #1,774
  • Sep 3, 2023 3:33pm Sep 3, 2023 3:33pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the monthly time frame printed a bearish candlestick in August. Although the candlestick printed is relatively small, it was a follow-through print to the bearish pinbar of July.

Attached Image (click to enlarge)
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The bearish pinbar printed last week by the EURUSD market operation on the weekly time frame technically portends a bearish continuation. It favours a follow-through of the bearish prints of the past three weeks.

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


EURUSD price action on the daily time frame is bearish and the technical impulse favours further southward continuation. Technically, we can expect a bearish drive to the 1.06600 horizontal support area (blue) in the early part of this week.

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,775
  • Sep 3, 2023 3:44pm Sep 3, 2023 3:44pm
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the monthly time frame issued a bearish candlestick in August to reject the 1.28630 horizontal resistance area. The area has not been broken as resistance since June 2023.

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


GBPUSD market operation on the weekly time frame turned sideways last week after bulls failed to break above the open of the bearish candlestick printed two weeks ago, resulting in the printing of a doji-like candlestick.

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


Recent technical patterns of GBPUSD price action on the daily time frame favour a southward market engineering. Thus, should bears follow-through on the recent technical impulse, we may see a southward drive initially to the 1.24100 area (blue).

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,776
  • Sep 10, 2023 1:53pm Sep 10, 2023 1:53pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame turned sideways after a bearish print last week as opposed to the bullish print of two weeks ago.

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


The XAUUSD price action on the daily time frame turned sideways towards the end of last week. However, the technical structure is bearish.

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


XAUUSD price action on the H4 time frame is sideways. The technical patterns are mixed, and we may have to await directional clarity upon Monday close. However, the longer-term technical structure favours bears.

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
  • #1,777
  • Sep 10, 2023 2:58pm Sep 10, 2023 2:58pm
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame is bullish. The technical structure supports further northward move.

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 technical structure is bullish.

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


Although the bullish momentum of USDJPY price action on the H4 time frame is declining, the technical structure favours bulls. However, we cannot rule out a southward corrective action before a northward momentum.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 11 KB



I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #1,778
  • Sep 10, 2023 3:24pm Sep 10, 2023 3:24pm
EURUSD Weekly Technical Outlook

EURUSD market operation on the weekly time frame printed a bearish continuation candlestick last week. Technically, this is in line with the bearish pinbar printed two weeks ago.

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


The order flow context and technical impulse of EURUD price action on the daily time frame favour bears. Thus, any northward move would be temporary, giving way to a southward rotation.

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


Although EURUSD price action on the H4 time frame turned sideways on Friday, the preceding technical impulse is bearish. Therefore, further southward move is favoured.

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
  • #1,779
  • Sep 10, 2023 3:41pm Sep 10, 2023 3:41pm
GBPUSD Weekly Technical Outlook

GBPUSD market action on the weekly time frame resumed a bearish mode last week after printing a bearish candlestick below the sideway that occurred two weeks ago.

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


GBPUSD price action retained its bearish outlook on the daily time frame despite the slowdown that occurred on Friday. The technical structure favours bears, and any northward move would be corrective in nature.

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


Although GBPUSD price action on the H4 time frame turned sideways on Friday, the preceding technical impulse is bearish.

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
  • #1,780
  • Sep 17, 2023 2:22pm Sep 17, 2023 2:22pm
XAUUSD Weekly Technical Outlook

XAUUSD market operation on the weekly time frame turned sideways last week after a bullish correction. Market operation is at the lower part of the 1989.70/1901.50 channel seen on the monthly time frame. The channel has remained intact since June 2023. Technically, a significant breakdown of the channel on a weekly closing basis could open the door for a southward continuation.

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


On the daily time frame, XAUUSD price action broke below the lower part of the 1989.70/1901.50 channel, seen on the monthly time frame several, but failed a follow-through and bulls pushed back the bearish charge. Presently, price action is sideways just above the area. However, the technical structure favours bears more than bulls. Thus, although, we may still see a northward market operation, a southward turnaround is technically supported.

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


Although the technical structure of XAUUSD price action on the H4 time frame is bearish, presently there is a bullish correction. And we could still see a northward market engineering to an area of value, such as the 1938.20/1934.50 intra-day supply (blue) before a southward turnaround.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDH4.png Size: 13 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
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