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

USDJPY Weekly Technical Outlook

Although the bullish momentum of USDJPY market operation on the weekly time frame is waning, the technical structure is bullish. The bullish candlestick printed last week failed to close above the high of the bullish candlestick of the previous week. Presently, market operation is less than 100 pips from the immediate horizontal resistance, which is at the 148.710 area (purple).

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


USDJPY price action on the daily time frame is in a bullish technical structure. However, it is presently consolidating as it approaches 148.710, the next horizontal resistance area (purple).

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


Although USDJPY price action on the H4 time frame is sideways, the technical structure is bullish. This, however, does not rule out a southward correction before a bullish drive to the next value area northward.

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
EURUSD Weekly Technical Outlook

The 1.06600 area (blue) has held as horizontal support for market operation on the EURUSD weekly time frame since the last week of May 2023. Last week, a bearish charge at the area was resisted by bulls, leading to the printing of a bearish candlestick with shadow on both ends.

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


The technical impulse of the EURUSD price action on the daily time frame is bearish. However, on Friday, bulls resisted a bearish drive to break down the 1.06600 horizontal support area (blue). Although we cannot rule out further bullish push, the order flow context and technical impulse favour bears more than bulls. Therefore, any northward move would give way to a southward turnaround.

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 technical impulse and order flow context favour bears. Therefore, any further bullish move would be corrective in nature.

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
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame is in a bearish mode. However, it is navigating the 1.24100/1.23120 horizontal support zone (blue), which aligns with the 61.8 fib area of the prevailing 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 tackling the 1.24100/1.23120 horizontal support zone (blue). The zone is in confluence with the 61.8 fib area of the prevailing bearish swing. A significant breakdown of the zone on a daily closing basis would initiative a southward drive to an area of value. In the prevailing technical context, any northward market engineering would be for liquidity grab, and would give way to 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 turned sideways towards the end of Friday session, the technical structure and order flow context favour bears.

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
XAUUSD Weekly Technical Outlook

XAUUSD market operation is operating within the 1941.10/1912.90 horizontal channel (blue). A breakdown of the channel would see bears retest the 1901.50 horizontal support area, which is the lower part of the bigger 1989.70/1901.50 horizontal channel (purple) seen on the monthly time frame.

Attached Image (click to enlarge)
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XAUUSD price action on the daily time frame is in consolidation. The technical structure is bearish, but we may still see a northward move for liquidity grab at, e.g., the 1966.34/1958.50 intra-day supply (magenta), before a southward rotation.

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


XAUUSD price action on the H4 time frame turned sideways on Friday after a bullish correction. The technical structure is bearish. Nevertheless, we cannot rule out a northward market engineering before a southward rotation.

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


I may be wrong. Trade safe and prosper.

KP
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 14 KB
Do your homework, follow the footprints of smart money
USDJPY Weekly Technical Outlook

USDJPY market operation on the weekly time frame is still in a bullish mode but declining in momentum as it approaches the 149.00 horizontal resistance (blue). But we may still see a bullish charge towards the 150.00 psychological area (purple), which is aligned with the immediate horizontal resistance on the monthly time frame.

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


USDJPY price action on the daily time frame has turned sideways as it approaches the 149.00 horizontal resistance (blue). Although there is a decline in bullish momentum, we cannot rule out further bullish charge at the 150.00 psychological area (purple), an area aligned with the immediate horizontal resistance on the monthly time frame.

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


USDJPY price action on the H4 time frame is consolidating within a rising wedge (magenta). Recent technical pattern favours a southward liquidity sweep towards the lower part of the wedge before further northward move.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
EURUSD Weekly Technical Outlook

EURUSD market operation on the weekly time frame turned sideways last week as bears tackle the 1.06600 horizontal support area (blue). The area aligns with the 38.3 fib retracement of the prevailing bearish swing.

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


Although the EURUSD price action on the daily time frame went sideways after breaking below the 1.06600 horizontal support area (blue), the technical impulse favours bears. Technically, any northward move would give way to a bearish rotation.

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


EURUSD price action on the H4 time frame went sideways towards the end of last week after a bearish retest of the 1.06600 horizontal support area (blue). The technical structure is bearish.

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
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the weekly time frame continued its southward mode after breaking down the 1.24100/1.23120 horizontal support zone (blue) last week.

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


GBPUSD price action on the daily time frame restored its bearish mode after breaking down a minor area of consolidation on Wednesday. This was followed with a bearish breakdown of the 1.24100/1.23120 horizontal support zone (blue) seen on the weekly time frame. Although, presently, price action is at another horizontal support area, which is not as significant as the 1.24100/1.23120 zone, any northward move would be corrective and temporary as the technical structure is bearish.

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


GBPUSD price action on the H4 time frame is presently sideways. However, the technical structure, together with the preceding technical impulse, is bearish.

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
  • Post #1,788
  • Quote
  • Oct 1, 3:03pm (2 hr 24 min ago) Oct 1, 3:03pm (2 hr 24 min ago)
XAUUSD Weekly Technical Outlook

In September, XAUUSD market operation on the monthly time frame broke down the 1963.93/1900.92 channel (blue) which had been in place for the previous three months. The technical structure and pattern favour further southward move.

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


XAUUSD market operation on the weekly time frame is bearish. Last week, market operation broke down an area of consolidation that had been in place for four weeks. Although we cannot rule out a bullish corrective move, the technical pattern favour bears.

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


XAUUSD price action on the daily time frame is bearish. Although bears are technically favoured to maintain market influence, we should expect northward market engineering before a significant bearish drive, which may expose the 1810.84 handle (magenta).

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
  • Post #1,789
  • Quote
  • Oct 1, 3:24pm (2 hr 3 min ago) Oct 1, 3:24pm (2 hr 3 min ago)
USDJPY Weekly Technical Outlook

USDJPY market operation on the monthly time frame is in a bullish mode. In September, market operation printed a bullish candlestick that followed-through the bullish 144.180 previous horizontal resistance in August. Market operation is presently attacking the immediate horizontal resistance at the 150.000 area (purple).

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 there is a decline in northward momentum. Market operation is presently tackling the 150.000 horizontal resistance area (purple) and we may still see further bullish move before any significant bearish pushback.

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


USDJPY price action on the daily time frame is sideways. Presently, it is tacking the 150.000 horizontal resistance area (purple).

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • Post #1,790
  • Quote
  • Oct 1, 3:47pm (1 hr 40 min ago) Oct 1, 3:47pm (1 hr 40 min ago)
EURUSD Weekly Technical Outlook

EURUSD market operation on the monthly time frame is tackling the 38.2/23.6 Fib retracement zone of the prevailing bearish swing. The zone is congruent to the 1.06000/1.03840 horizontal support zone (blue). The bearish print in September surged into the zone before retracing, leaving a tail within the zone.

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


EURUSD market operation on the weekly time frame is in a bearish mode. However, there is a decline in southward momentum. Presently, the market operation is tackling a horizontal support zone aligned with the 38.2 Fib retracement area of the dominant bearish swing.

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


EURUSD price action on the daily time frame is in a bearish technical structure. However, after the bearish breakdown of the1.06000 horizontal support (blue), there was a bullish pullback. But bulls lost the technical impetus on Friday, leading to the printing of a bearish pinbar just below the 1.06000 area. A successful bearish follow-through this week would target 1.03840, which is the next area of value.

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
  • Post #1,791
  • Quote
  • Last Post: Oct 1, 4:20pm (1 hr 7 min ago) Oct 1, 4:20pm (1 hr 7 min ago)
GBPUSD Weekly Technical Outlook

GBPUSD market operation on the monthly time frame resumed a bearish mode in September with a breakdown of two areas of consolidation that spanned five months. The technical structure is bearish.

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



GBPUSD market operation on the weekly time frame is bearish. Presently, market operation is tackling the 1.21900 horizontal support area. A significant breakdown of the area on a weekly closing basis would incentivize a southward drive to the 1.19300 area (blue), which is congruent to the 50 Fib 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 was on a strong bearish run for several days. However, a bullish correction began on Thursday. But the bullish push lost steam on Friday, resulting in the printing of a doji-like candlestick. Technically, bears are favoured to resume the southward drive but as a medium-term swing trader, I will await a market engineering northward to an intra-day (e.g., H4 time frame) area of value before looking for a sell trading opportunity.

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
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