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Weekly Top-Down Technical Analyses

  • #2,081
  • Jan 26, 2025 3:28pm Jan 26, 2025 3:28pm
GBPUSD Weekly Technical Outlook

Last week, the GBPUSD market operation on the weekly time frame made a bullish retest of the 1.24790 horizontal resistance area. The area is between the 50/61.8 fib retracement zone 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


GBPUSD price action on the daily time frame is in a bullish corrective mode. On Friday, price action broke above a mini-area of consolidation to retest the 1.24790 horizontal resistance area. Although we may still see further northward market engineering, 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 making a bullish correction and presently sideways at the 1.24790 horizontal resistance. Nevertheless, we may still see further northward market engineering before a southward turnaround. 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
  • #2,082
  • Feb 2, 2025 2:23pm Feb 2, 2025 2:23pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the monthly time frame issued a relatively big bullish candlestick in January. Technically, the XAUUSD market is bullish.

Attached Image (click to enlarge)
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The XAUUSD market operation on the weekly time frame is bullish. Last week, it printed a relatively moderate bullish continuation candlestick.

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


XAUUSD price action on the daily time frame is bullish but the momentum is weakening. On Friday, price action printed an indecision candlestick at the 2796.53 intra-day horizontal resistance. Technically, we may see a bearish challenge in the area. This may lead to a southward correction before further northward momentum.

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
  • #2,083
  • Feb 2, 2025 2:31pm Feb 2, 2025 2:31pm
USDJPY Weekly Technical Outlook

The USDJPY market operation on the monthly time frame issued a bearish rejection of the 159.880/156.950 horizontal resistance zone (blue) in January. The relatively small bearish candlestick left a top ‘wick’ in the zone and closed at the upper part of the bullish candlestick printed in December 2024. Besides, it also has a tail of similar size to the top wick, which indicates that bulls are still influential in the market. The preceding technical operation in December 2024, with a relatively big bullish candlestick, indicates that the USDJPY market is technically bullish.

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


The USDJPY market operation on the weekly time frame has been sideways since a relatively weak bearish rejection of the 159.880/156.950 horizontal resistance zone (blue) three weeks ago. The recent technical prints indicate that bulls are more influential in the market than bears.

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


USDJPY price action on the daily time frame is sideways as bulls retested the 155.170 intra-day horizontal resistance on Friday. The preceding technical impulse is bullish. And recent technical patterns favour a northward liquidity sweep.

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
  • #2,084
  • Feb 2, 2025 2:40pm Feb 2, 2025 2:40pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the monthly time frame went sideways in January. It printed an indecision candlestick in the 38.2/23.6 fib retracement zone of the bearish swing traceable to May 2021. The zone contains a horizontal support zone that has been in place since December 2022.

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


The EURUSD market operation on the weekly time frame went sideways at the 1.04050/1.03240 horizontal support zone (green) after a bearish retest last week. Two weeks ago, there was a bullish flip of the zone from resistance to support. But last week’s bearish print could not break down the zone. Technically, bulls are still more influential in the market than bears, although 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 is bearish but it is tackling the 1.04050/1.03240 horizontal support zone (green), which was flipped from resistance to support a few days ago. The prominent wicks on the top of the bearish candlesticks printed on Thursday and Friday may incentivize northward engineering in the early part of this week. The dominant technical structure is bearish.

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
  • #2,085
  • Feb 2, 2025 2:48pm Feb 2, 2025 2:48pm
GBPUSD Weekly Technical Outllook

In January, the GBPUSD market operation on the monthly time frame broke down the rising wedge (red) within which it has been consolidating for several months. The technical structure is bearish. But the candlestick printed in January has a relatively long tail, which indicates that bulls are still influential in the market. Besides, the market operation is presently located at the 50-fib retracement of the bearish swing traceable to May 2021 and we may still see a contention for market influence between bulls and bears in the area.

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


The GBPUSD market operation on the weekly time frame printed a relatively small bearish candlestick last week. This represents a weak bearish challenge to the relatively strong bullish move of the previous week. That bullish momentum printed a relatively big bullish candlestick. Technically, bulls are presently more influential than bears.

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


GBPUSD price action on the daily time frame is sideways at an intra-day horizontal support. The preceding technical impulse is bullish. Thus, we may see northward price engineering in the early part of this week. Nevertheless, the dominant technical structure is bearish.

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


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #2,086
  • Feb 2, 2025 2:50pm Feb 2, 2025 2:50pm
much love keenpips... i really appreciate your effort in this, pls do usdcad
Consistency isn't Glamorous But That's How Legends are Made
  • #2,087
  • Feb 2, 2025 2:56pm Feb 2, 2025 2:56pm
Attached Image (click to enlarge)
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Quoting KeenPips
EURUSD Weekly Technical Outlook The EURUSD market operation on the monthly time frame went sideways in January. It printed an indecision candlestick in the 38.2/23.6 fib retracement zone of the bearish swing traceable to May 2021. The zone contains a horizontal support zone that has been in place since December 2022. {image} The EURUSD market operation on the weekly time frame went sideways at the 1.04050/1.03240 horizontal support zone (green) after a bearish retest last week. Two weeks ago, there was a bullish flip of the zone from resistance...
  • #2,088
  • Feb 2, 2025 3:06pm Feb 2, 2025 3:06pm
Thanks mate for your encouraging comment. However, I analyse only the pairs I track or trade. If you have a specific pair you track or trade, let me know at the beginning of the month so that I can do a top-down analysis on it during that particular month.

Trade safe, prosper.
KP

Quoting JeremiaDa
much love keenpips... i really appreciate your effort in this, pls do usdcad
Do your homework, follow the footprints of smart money
  • #2,089
  • Feb 9, 2025 1:46pm Feb 9, 2025 1:46pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is bullish. But it is approaching the upper trendline of a rising channel (magenta).

Attached Image (click to enlarge)
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After printing a multi-year high on Friday, the XAUUSD price action on the daily time frame printed a bearish pinbar at the 2860.80 horizontal resistance area. Technically, a bearish correction is imminent.

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


XAUUSD price action on the H4 time frame is sideways at the 2860.80 intra-day horizontal support. Recent technical prints indicate a potential southward 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
  • #2,090
  • Feb 9, 2025 1:57pm Feb 9, 2025 1:57pm
USDJPY Weekly Technical Outlook

Since a bearish rejection of the 156.950 horizontal resistance area four weeks ago, the USDJPY market operation on the weekly time frame has maintained a bearish mode. Last week, the market operation printed a relatively big bearish candlestick that retested the 152.520/150.810 horizontal support zone (magenta).

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


USDJPY price action on the daily time frame is bearish, but presently it is tackling the 152.520/150.810 horizontal support zone (magenta). On Friday, price action printed an indecision candlestick in the zone, but we may still see further southward market engineering in the early part of this week.

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


USDJPY price action on the H4 time frame is presently sideways at the 152.520/150.810 horizontal support zone (magenta). However, the preceding technical impulse favours bears more than bulls. And we may still see further southward market engineering in the early part of this week.

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
  • #2,091
  • Feb 9, 2025 2:07pm Feb 9, 2025 2:07pm
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame is sideways. Last week, the market operation printed a relatively big bullish candlestick but with a prominent top wick as opposed to the relatively big bearish candlestick of two weeks ago. Presently, the market operation is located within the 1.03240/1.04050 zone; a zone which has just been flipped as resistance since December 2022.

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


EURUSD price action is consolidating within the 1.03240/1.04050 horizontal resistance zone. There was a bullish retest of the zone on Tuesday and Wednesday, but bears challenged the move on Thursday and Friday. Presently, there is no directional clarity, but 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 in consolidation. Presently, price action is at the 1.03240 intra-day horizontal support. Technically there is no directional clarity, but 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
  • #2,092
  • Feb 9, 2025 2:16pm Feb 9, 2025 2:16pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is sideways. Last week, the market operation printed a relatively moderate bullish candlestick with a prominent top wick as opposed to the bearish candlestick of two weeks ago. Presently, the market operation is located at the 50-fib retracement of the bearish swing traceable to May 2021.

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


GBPUSD price action on the daily time frame is presently in a bearish mode. On Wednesday, bulls made a futile attempt to retest a broken rising channel trendline; but bears resisted the challenge. Recent technical prints favour further southward market engineering. 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 in consolidation. But recent technical prints favour further southward move, and the dominant technical structure is bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 14 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #2,093
  • Feb 16, 2025 2:01pm Feb 16, 2025 2:01pm
XAUUSD Weekly Technical Outlook

Last week, the XAUUSD market operation on the weekly time frame retested the upper trendline of the rising channel (red) within which it is consolidating. The bullish print has a relatively long shadow, i.e., a bearish pinbar, and closed at the 2882.38 area: a previous horizontal resistance formed by the bullish print of two weeks ago being flipped as suport.

Attached Image (click to enlarge)
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XAUUSD price action on the daily time frame has disposed bearish. The bearish candlestick printed on Friday broke below the low of the bullish candlestick printed on Thursday. However, price action is presently tackling an intra-day horizontal support in the 2882.38 area. Technically, further southward drive is favoured.

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


Although the XAUUSD price action is presently sideways as it tackles the 2882.38 intra-day horizontal support, the preceding technical impulse is bearish. And we may see further southward drive. Pattern traders may be interested in the emerging ‘M’ pattern on the H4 time frame.

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
  • #2,094
  • Feb 16, 2025 2:26pm Feb 16, 2025 2:26pm
USDJPY Weekly Technical Outlook

Last week, the USDJPY market operation on the weekly time frame went sideways after a bullish rejection of the 152.520/150.810 horizontal support zone (magenta). The market operation printed a bearish pinbar in the zone. Although, technically, this favours bears, we may still see a northward retest of an area of value before a southward turnaround.

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


USDJPY price action on the daily time frame made a bearish retest of the 152.520/150.810 horizontal support zone (magenta) on Friday. But the bearish print in the zone is relatively small and has shadows on both ends. Technically, we may still see a bullish pullback to an intra-day area of value before any bearish momentum.

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


USDJPY price action on the H4 time frame is presently sideways at the 152.280 intra-day horizontal support. Recent technical prints favour northward market engineering, perhaps to an intra-day area of value, before further southward drive. Generally, the market is retesting a larger horizontal support zone, the 152.520/150.810 horizontal support zone (magenta), seen on the weekly time frame

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
  • #2,095
  • Feb 16, 2025 2:53pm Feb 16, 2025 2:53pm
EURUSD Weekly Technical Outlook

Although the EURUSD market operation on the weekly time frame printed a relatively big bullish candlestick last week, the market is in a consolidation. Generally, in the last seven weeks, the market operation has been consolidating in the 38.2/23.6 fib retracement zone of the bearish swing traceable to May 2021. Presently, the market operation is retesting the 1.04880 horizontal resistance area.

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


EURUSD price action on the daily time frame is consolidating in the 1.05140/1.02180 horizontal channel (blue). Presently, the price action is retesting the upper part of the channel. The bullish print in the area on Friday is relatively smaller than the one printed on Thursday, which indicates a decline in bullish momentum. Apparently, a southward turnaround is in the offing.

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


EURUSD price action on the H4 time frame retested the 1.05140 horizontal resistance on Friday. Although there was a bearish challenge in the area, the challenge was feeble. Nevertheless, it is a technical indication that we may soon see a bearish turnaround in the area or in an intra-day area of value above the area.

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
  • #2,096
  • Feb 16, 2025 3:23pm Feb 16, 2025 3:23pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is in consolidation. After a bearish breakdown of the rising channel (red) within which it had operated for several weeks, recent GBPUSD technical prints have formed a symmetrical triangle (blue). The bullish print of last week closed at the upper trendline of the triangle.

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


GBPUSD price action on the daily time frame is consolidating within a symmetrical triangle (blue). On Friday, price action retested the upper trendline and printed a bearish pinbar in the area. Technically, we may soon see a southward rotation, perhaps after northward liquidity engineering to an intra-day area of value.

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


GBPUSD price action on the H4 time frame retested the 1.26300 intra-day horizontal resistance on Friday. The area intersects with the upper trendline of a symmetrical triangle (blue) within which the price action is consolidating. Although there was a bearish challenge in the area, the challenge was feeble. Nevertheless, it is a technical indication that we may soon see a southward rotation, perhaps after a brief northward market engineering.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH4.png Size: 16 KB


I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #2,097
  • Feb 23, 2025 1:48pm Feb 23, 2025 1:48pm
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame continues to be disposed bullish. Last week, it printed a relatively moderate bullish candlestick which retested the upper trendline of the rising channel (magenta) within which it has been consolidating for several weeks.

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


XAUUSD price action on the daily time frame is retesting the upper trendline of the rising channel (magenta) within which it has been consolidating for several weeks. Presently, price action is sideways in the area. The preceding technical impulse is bullish, and we may still see further northward move before a southward rotation.

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


XAUUSD price action on the H4 time frame is presently sideways. Price action is retesting the upper trendline of the rising channel (magenta) within which it has been consolidating for several weeks. We cannot rule out further northward market 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
  • #2,098
  • Feb 23, 2025 2:00pm Feb 23, 2025 2:00pm
USDJPY Weekly Market Outlook

The USDJPY market operation on the weekly time frame resumed a southward mode last week after a bearish breakdown of the 152.520/150.810 horizontal support zone (magenta). But the relatively big bearish candlestick printed last week closed at the 149.220 longer-term horizontal support (green).

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


Although the USDJPY price action on the daily time frame is presently sideways at the 149.220 horizontal support (green), the technical impulse favours bears more than bulls. Thus, apart from a probable northward corrective move to shake out weak hands in the early part of this week, we will likely see further southward drive.

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


USDJPY price action on the H4 time frame went sideways at the 149.220 horizontal support (green) after a bearish retest. Although the technical impulse favours bears more than bulls, we cannot rule out a bullish corrective move 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
  • #2,099
  • Feb 23, 2025 2:47pm Feb 23, 2025 2:47pm
EURUSD Weekly Technical Outlook

Last week, the EURUSD market operation on the weekly time frame went sideways at the 1.04000/1.05140 horizontal resistance zone (blue). Technically, this is about 150 pips below the 38.2 fib retracement 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 presently sideways within the 1.04000/1.05140 horizontal resistance zone (blue). Although the dominant technical structure is bearish, we may still see northward market engineering to an intra-day area of value before a 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. Presently, it is at the 1.04570 intra-day horizontal support. But as the preceding technical impulse is bullish, we may still see northward marketing engineering in the early part of this week.

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
  • #2,100
  • Feb 23, 2025 3:05pm Feb 23, 2025 3:05pm
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame retested the 1.26320 horizontal resistance area last week but met a bearish challenge. This led to the printing of a relatively small bullish candlestick in the area.

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


GBPUSD price action on the daily time frame is sideways at the 1.26320 horizontal resistance area. There was a bullish retest of the area on Thursday, but on Friday bears resisted a breakout from the area. However, the bearish candlestick printed in the area on Friday is relatively small. Thus, technically, we may still see further northward market engineering in the early part of this week. Nevertheless, the dominant 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 sideways at the 1.26320 intra-day horizontal support. But the technical impulse favours bulls more than bears, and we may still see further northward market engineering. Nevertheless, 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
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