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Weekly Top-Down Technical Analyses

  • #2,061
  • Dec 22, 2024 3:13pm Dec 22, 2024 3:13pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame printed an indecision candlestick at the 1.25640 horizonal support area last week. Presently, the market operation is at the lower trendline of a rising wedge (red), within which it has been consolidating for several weeks.

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


GBPUSD price action on the daily time frame went sideways below a rising wedge (red) on Friday after a bearish breakdown on Thursday. Technical impulse favours bears more than bulls. Nevertheless, we may still see a northward retest of an intra-day area of value before a southward turnaround.

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


At the latter part of Friday’s session, GBPUSD price action on the H4 time frame went sideways at the lower trendline of a rising wedge (red) within which it has been consolidating after a bullish pullback of a bearish breakdown on Thursday. Although we cannot rule out a northward move to retest an intra-day area of value, the dominant technical structure 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
  • #2,062
  • Dec 29, 2024 1:35pm Dec 29, 2024 1:35pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is consolidating within a rising channel. Presently, market operation is sideways at the lower channel trendline and located at the 2619.70 horizontal support. We may still see further southward drive in the early part of this week.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDWeekly.png Size: 17 KB


XAUUSD price action on the daily time frame is consolidating at the 2619.70 intra-day horizontal support. Recent technical patterns favour a southward liquidity engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: GOLDDaily.png Size: 17 KB


XAUUSD price action on the H4 time frame is in corrective consolidation within a rising wedge (blue). Technicals support further southward momentum.

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
  • #2,063
  • Dec 29, 2024 1:45pm Dec 29, 2024 1:45pm
USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame printed a bullish continuation candlestick last week. However, there was a decline in bullish momentum as market operation retested the 158.110 horizontal resistance area. Technically, the market operation is in a bullish mode of consolidation within a wide rising channel (red).

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


USDJPY price action on the daily time frame went sideways towards the end of last week as it tackles the horizontal resistance within the 157.780/158.110 area. The technical impulse favours further northward move.

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


USDJPY price action on the H4 time frame is consolidating at the 157.780 intra-day horizontal resistance. However, the technical impulse favours further northward move.

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
  • #2,064
  • Dec 29, 2024 1:53pm Dec 29, 2024 1:53pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame went sideways upon the bearish retest of the 1.04050 horizontal support area. We may still see further southward move. The dominant technical structure is bearish.

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


EURUSD price action on the daily time frame went sideways after bulls pushed back a bearish breakdown of the 1.04050 horizontal support area. We may still see further southward move this week. The dominant technical structure is bearish.

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


EURUSD price action on the H4 time frame is consolidating in a triangle (red). The consolidation started after bulls pushed back a bearish breakdown of the 1.04050 horizontal support area. Nevertheless, we may still see further southward move. The dominant technical structure is bearish.

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
  • #2,065
  • Dec 29, 2024 2:08pm Dec 29, 2024 2:08pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is sideways as it tackles the 1.25730 horizontal support area. We may still see further southward move. The dominant technical structure is bearish. This is congruent with the lower trendline of the rising wedge (red), within which the market operation has been consolidating for several weeks.

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


GBPRUSD price action on the daily time frame went sideways after bulls pushed back a bearish breakdown of the rising wedge (red), within which the market operation has been consolidating for several weeks. Presently, price action is retesting the lower wedge trendline. But the dominant technical structure is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 17 KB


GBPUSD price action on the H4 time frame went sideways at the latter part of Friday close after a bullish retest of the broken down lower trendline of the rising wedge (red), within which it was consolidating. The dominant technical structure is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 15 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #2,066
  • Jan 5, 2025 2:02pm Jan 5, 2025 2:02pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the monthly time frame printed an indecision candlestick in the 2646.80/2597.88 horizontal support zone (blue) in December 2024. The zone was flipped as support in October 2024 but the market operation in November issued a bearish retest of the zone.

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


The XAUUSD market operation on the weekly time frame is consolidating in the 2646.80/2597.88 horizontal support zone (blue). Last week, a small bullish candlestick was printed in the zone.

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


XAUUSD price action on the daily time frame went sideways at the 2646.80 intra-day horizontal resistance on Friday. However, the immediate technical impulse favours bulls, and we may see a northward market operation to retest an intra-day area of value before a southward drive.

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
  • #2,067
  • Jan 5, 2025 2:30pm Jan 5, 2025 2:30pm
USDJPY Weekly Technical Outlook

The USDJPY market operation on the monthly time frame printed a bullish candlestick in December 2024. The market operation is presently in the 157.300 horizontal resistance area.

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


The USDJPY market operation on the weekly time frame is presently sideways at the 157.300 horizontal resistance area. There was a bullish drive to the area three weeks ago but there was no significant bullish follow-up two weeks ago. Last week, the market operation printed an indecision candlestick in the area. Technically, the USDJPY market operation is consolidating within a rising channel (purple), and presently at the upper part of the channel.

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


USDJPY price action on the daily time frame is presently sideways at the 157.300 horizontal resistance area. However, the technical impulse favours bulls more than bears. We may see a northward liquidity to an intra-day are of value in the early part of this week before a southward correction.

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #2,068
  • Jan 5, 2025 3:21pm Jan 5, 2025 3:21pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the monthly time frame maintained a bearish disposition in December 2024 to retest the 1.04050/1.03240 horizontal support zone (green). This zone is just above the 23.6 fib retracement of the bearish swing traceable to May 2021.

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


The EURUSD market operation on the weekly time frame produced a bearish continuation candlestick last week to close below the 1.04050/1.03240 horizontal support zone (green). The dominant technical structure is bearish.

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


EURUSD price action on the daily time frame went sideways towards the end of last week after a bearish breakdown of the 1.04050/1.03240 horizontal support zone (green). Although the dominant technical structure is bearish, we may still see some bullish corrective price action or northward market engineering before further bearish drive.

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
  • #2,069
  • Jan 5, 2025 3:27pm Jan 5, 2025 3:27pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the monthly time frame printed a bearish continuation candlestick in December 2024 to break down the rising wedge within which it has been consolidating for several months. The dominant technical structure is bearish.

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


The GBPUSD market operation on the weekly time frame broke down the rising wedge within which it had been consolidating and after two weeks of sideways around the lower wedge trendline. Presently, the market operation is at the 1.23300 horizontal support area, which is proximal to the 50-fib retracement of the bearish swing traceable to May 2021. The dominant technical structure is bearish.

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


After a period of consolidation in the early part of last week, GBPUSD price action on the daily time printed a bearish candlestick on Thursday to break below the intra-day area of consolidation. However, bulls briefly pushed back on Friday, ending the week in a sideway mode. Although the dominant technical structure is bearish, we cannot rule out northward market engineering before further bearish drive.

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
  • #2,070
  • Jan 12, 2025 2:02pm Jan 12, 2025 2:02pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is consolidating within a narrow triangle (magenta). Last week the market operation printed a bullish candlestick that re-tested the upper trendline. Presently, the market operation is at the 2687.85 horizontal resistance area.

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


XAUUSD price action on the daily time frame is in a bullish mode. Presently, price action is at the 2687.85 horizontal resistance, where there was a bearish challenge to bullish break of the area on Friday. Nevertheless, we may still see further northward market engineering to re-test an intra-day area of value.

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


Although XAUUSD price action on the H4 time frame is presently sideways, recent technical prints favour northward market engineering to re-test an intra-day area of value.

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
  • #2,071
  • Jan 12, 2025 2:23pm Jan 12, 2025 2:23pm
USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame has been sideways at the 157.630 horizontal resistance area since the past four weeks. The market operation made a bullish drive to the area four weeks ago but met with a relatively strong bearish challenge. Apparently, a southward correction is in the offing.

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


USDJPY price action on the daily tie frame is presently sideways. It has been tackling the 157.630 horizontal resistance area for several days. Although the preceding technical impulse is bullish but we may see a southward correction before further bullish drive.

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


USDJPY price action on the H4 time frame is consolidating in a rising channel (magenta), Recent technical prints favour bears more than bulls.

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
  • #2,072
  • Jan 12, 2025 2:39pm Jan 12, 2025 2:39pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame is still bearish. Last week, bulls attempted a pushback of the bearish drive that happened two weeks ago. But bears wrestled the control of the market to restore the southward disposition. This led to the printing of a bearish pinbar near the 23.6 fib-retracement area of the bearish swing traceable to May 2021.

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


EURUSD price action on the daily time frame is in a bearish mode after a breakdown of the 1.04050/1.03240 horizontal support zone (green). Presently, price action is tackling the 23.6 fib-retracement area of the bearish swing traceable to May 2021. We cannot rule out a northward retest of an intra-day area of value before further southward drive.

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


EURUSD price action on the H4 time frame is sideways. After a bearish breakdown of the 1.04050/1.03240 horizontal support zone (green), price action declined in directional momentum. But on Friday, bears pushed for further southward move, which waned at the 1.02400 intra-day horizontal support. We cannot rule out a northward retest of an intra-day area of value before further southward drive.

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
  • #2,073
  • Jan 12, 2025 2:58pm Jan 12, 2025 2:58pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is bearish. Two weeks ago, the market operation broke down the rising wedge (red) within which market operation had been consolidating for several weeks. Last week, the market operation printed a relatively big bearish continuation-candlestick.

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


GBPUSD price action on the daily time frame is bearish. Several days ago, the price action broke down the rising wedge (red) within which price action had been consolidating. There was a bullish retest of the channel on Monday. But there was a bearish rejection on Tuesday. And since then, there has been the printing of bearish continuation candlesticks. Presently, price action is at the 1.21980 horizontal support, which is about 100 pips below the 50-fib retracement of the bearish swing traceable to May 2021.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 19 KB


Although GBPUSD price action on the H4 time frame is bearish, there is a decline in southward momentum. We cannot rule out northward market engineering before a southward rotation.

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
  • #2,074
  • Jan 19, 2025 1:48pm Jan 19, 2025 1:48pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is in a bullish mode. However, the bullish momentum is waning as the market operation tackles the 2702.40 horizontal resistance area. Last week, the market operation printed a doji-like candlestick in the area.

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


XAUUSD price action on the daily time frame turned sideways on Friday as it tackles the 2714.90 horizontal resistance. Nevertheless, the technical impulse favours bulls more than bears. Technically, we may still see further northward momentum before a southward pullback.

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


XAUUSD price action on the H4 time frame retested the 2702.39 intra-day horizonal support on Friday. Although we may still see a brief southward move in the early part of this week, the technical impulse favours further northward market engineering.

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
  • #2,075
  • Jan 19, 2025 2:00pm Jan 19, 2025 2:00pm
USDJPY Weekly Technical Outlook

Last week, the USDJPY market operation on the weekly time frame printed a bearish candlestick with a relatively moderate tail. This supports a bullish challenge, but we may still have southward market engineering this week before a northward turnaround.

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


USDJPY price action on the daily time frame turned sideways at the 156.250 intra-day horizontal resistance towards the end of last week. As the preceding technical impulse is bearish, we may still see a southward retest of an intra-day area of value before a northward momentum.

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


USDJPY price action on the H4 time frame made a bullish retest of the 156.250 intra-day horizontal resistance on Friday. However, the technical impulse favours bears more than bulls, and we may still see further southward momentum in the early part of this week.

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
  • #2,076
  • Jan 19, 2025 2:54pm Jan 19, 2025 2:54pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame which had been bearish is now sideways as it tackles the 23.6 fib retracement of the bearish swing traceable to May 2021. The area is in congruence with the 1.02300 horizontal support. Last week, market operation printed an indecision candlestick in the area.

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


EURUSD price action on the daily time frame turned sideways after a bearish rejection of the 1.03240 horizontal resistance. It is located a few pips above the 23.6 fib retracement of the bearish swing traceable to May 2021. Technically, bears are more favoured than bulls. The dominant technical structure is bearish.

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


EURUSD price action on the H4 time frame is tackling the 1.02675 intra-day horizontal support but there is decline in bearish momentum. However, the dominant technical structure is bearish.

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
  • #2,077
  • Jan 19, 2025 3:11pm Jan 19, 2025 3:11pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is bearish. However, the bearish momentum is declining. Presently, the market operation is tackling the 1.21630 horizontal support, and an indecision candlestick was printed in the area last week.

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


Although the bearish momentum of the GBPUSD price action on the daily time frame is declining, the technical impulse favours bears more than bulls. Besides, the dominant technical structure is bearish.

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


GBPUSD price action on the H4 time frame is tackling the 1.21630 intra-day horizontal support. Although there is a decline in bearish momentum, the dominant technical structure 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
  • #2,078
  • Jan 26, 2025 1:55pm Jan 26, 2025 1:55pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is bullish. Last week, it printed a relatively big bullish candlestick to retest the 2770.60 horizontal resistance area.

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


XAUUSD price action on the daily time frame has made a bullish retest of the 2770.60 horizontal resistance area. However, there is a bearish challenge in the area as the bullish momentum declines. What price action does in the area upon the closing of business on Monday should be watched.

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 2770.60 area. Apparently, bears are challenging further northward drive from the area. We cannot rule out further bearish challenges in the early part of this week.

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
  • #2,079
  • Jan 26, 2025 2:02pm Jan 26, 2025 2:02pm
USDJPY Weekly Technical Outlook

Two weeks ago, the USDJPY market operation on the weekly time frame made a bearish retest of the 155.400 horizontal support area (blue). But last week, the market operation went sideways in the area. This indicates that bulls were challenging a bearish breakdown of the area.

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


USDJPY price action on the daily time frame is tackling the 155.400 horizontal support area (blue). Presently, it is sideways in the area. As the preceding technical impulse is bearish, we may still see further southward market engineering.

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


USDJPY price action on the H4 time frame is in consolidation. It is tackling the 155.400 horizontal support area. As the preceding technical impulse is bearish, we may see a retest of an intra-day area of value before a northward turnaround.

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
  • #2,080
  • Jan 26, 2025 3:16pm Jan 26, 2025 3:16pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time is in a bullish corrective mode. Last week, market operation printed a relatively big bullish candlestick to retest the 1.04998 area which was flipped as resistance six weeks ago. The area is about 800 pips below the 38.2 fib retracement of the bearish swing traceable to May 2021. The dominant technical structure is bearish.

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


EURUSD price action is in a bullish mode. Last week Frida, price action printed a relatively big bullish candlestick that broke above the 1.04050 intra-day horizontal resistance. Further northward push may see a retest of the 1.05830 horizontal resistance, an area which aligns with the 38.2 fib retracement of the bearish swing traceable to May 2021. Although the dominant structure is bearish, the technical impulse is still bullish. Therefore, we may still see northward market engineering in the early part of this week before a southward rotation.

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


Although EURUSD price action on the H4 time is presently sideways at the 1.04898 intra-day horizontal resistance, the technical impulse favours further northward move. But this may be short lived as the dominant technical structure is bearish.

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
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