Weekly Top-Down Technical Analyses

GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the monthly time frame maintained a bullish mode in April. The market operation retested the 1.34257 area, an area that aligns with the 78.6 fib-retracement of the bearish swing traceable to May 2021.

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Last week, the GBPUSD market operation on the weekly time frame went sideways at the 1.32640 area afterbay bearish pullback. There was a bullish drive to the 1.34257 area two weeks ago. This situation represents a decline in bullish momentum.

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The GBPUSD price action on the daily time frame turned sideways on Friday after a bearish challenge of the bullish drive to the 1.34257 /1.34360 area. Presently, the price action is tackling the 1.32640 intra-day horizontal support. Nevertheless, we may still see a bullish pullback before a southward turnaround.

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I may be wrong. Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is sideways at the 3324.25 horizontal resistance area. However, recent technical prints favour a southward turnaround.

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The XAUUSD market operation on the daily time frame is experiencing increased bearish pressure. Presently, the price action is tackling the 3324.25 horizontal resistance. But we may soon see a southward drive.

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The XAUUSD price action on the H4 time frame is presently sideways. However, recent technical prints favour bear more than bulls, and we may see a bearish drive to an intra-day area of value in the early part of this week..

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I may be wrong. Trade safe and prosper.

KP

USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame is in bullish mode. Last week, the market operation printed a bullish pinbar to retest the broken down 154.160 area. This situation restores the market operation within the previously broken-down rising channel (purple). Technically, we can expect a northward momentum this week.

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The USDJPY price action on the daily time frame turned sideways on Friday after a bullish retest of the broken-down 154.160 area. The preceding technical impulse favours bulls more than bears.

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The USDJPY price action on the H4 time frame is sideways at the 154.160 area. Recent technical prints favour northward market engineering.

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I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame is in bearish mode. Last week, the market operation printed a bearish continuation candlestick. However, the market operation is presently tackling the 1.12480 horizontal support area.

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The EURUSD price action on the daily time frame turned sideways on Friday after a bearish drive to the 1.12480 horizontal support area on Thursday. The price action printed a doji-like candlestick on Friday. Nevertheless, we can expect further bearish drive during this week.

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Although the EURUSD price action on the H4 time frame is presently sideways, the technical impulse favours further southward movement.

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I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is sideways at the 1.32970 area. The area has been a horizontal resistance area for some time.

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The GBPUSD price action on the daily time frame is presently sideways at the 1.32970 area. The area is within the 1.32017/1.34007 horizontal channel of consolidation (blue), and we may still see further consolidation before a bearish breakdown of the channel.

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The GBPUSD price action on the H4 time frame is in consolidation. It is within the 1.32017/1.34007 horizontal channel of consolidation (blue). Furthermore, the price action is at the upper trendline of a falling mini channel (magenta). Technically, we may not yet see a directional momentum of price action.

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I may be wrong. Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame took on a bearish mode last week. The bearish candlestick printed last week closed below the area of consolidation that was in place for two weeks. However, there is a lack of bearish momentum as the candlestick printed last week has wicks on both ends.

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The XAUUSD price action on the daily time frame is sideways at the 3202.28 intra-day horizontal support. Recent technical prints favour a southward market engineering.

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The XAUUSD price action on the H4 time frame retested the 3202.28 intra-day horizontal resistance but there is a lack of bullish momentum. Technically, we may see a southward turnaround of price action.

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I may be wrong. Trade safe and prosper.

KP

USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame is in consolidation at the 145.156/146.000 zone. Two weeks ago, market operation printed a hammer-like candlestick in the zone. But last week, the market operation printed a bearish pinbar in the zone.

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The USDJPY price action on the daily time frame turned sideways on Friday after a bearish retest of the 145.156 intra-day horizontal support. Recent technical prints favour a southward liquidity sweep.

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The USDJPY price action on the H4 time frame is sideways. Presently, it is operating within the 145.156/146.000 zone (blue), seen on the weekly time frame., which is acting as an intra-day horizontal support zone. Nevertheless, we may see a southward drive to an intra-day area of value.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame took on a bearish mode five weeks ago. However, since then there has been a decline in bearish momentum. Presently, the market operation is tackling the 1.11600 horizontal support. Last week, the market operation printed an ambivalent candlestick in the area.

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The EURUSD price action on the daily time frame is sideways at the 1.11600 area. There was a bearish breakdown of the area on Monday, but bulls retested the area on Tuesday. Since then, the price action has been directionless in the area. Technically, we may still see northward momentum before further southwarrd drive, but it is better to await directional confirmation on a daily closing basis in the early part of the week.

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The EURUSD price action on the H4 time frame is consolidating. Presently, the price action is tackling the 1.11600 area and there has not been clear technical impulse in the past few days.

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I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is sideways within the 1.32017/1.34000 horizontal resistance zone. The zone contains the 78.6 fib retracement of the bearish swing traceable to May 2021.

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The GBPUSD price action on the daily time frame is sideways at the 1.32760 area. There was a bearish breakdown of the area on Monday, but bulls retested the area on Tuesday. Since then, the price action has been directionless in the area. Technically, we may still see northward momentum before further southward drive, but it is better to await directional confirmation on a daily closing basis in the early part of the week.

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The GBPUSD price action on the H4 time frame is consolidating. Presently, the price action is tackling the 1.32760 area and there has not been clear technical impulse in the past few days.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

Hi KeenPips, just want to say I really enjoy your analysis.
Do you mind doing some analysis on AUDJPY or AUD pairs?
Thank you.

Thanks mate for your kind remarks.

Regarding your request, I primarily do weekly top-down analysis on the pairs I trade or follow - which are EURUSD, GBPUSD, USDJPY and XAUUSD. As a medium-term swing trader I track only a few pairs and try to master their technical behaviors.

Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

Last week, the XAUUSD market operation on the weekly time frame printed a bullish candlestick to retest the 3357.42 horizontal resistance area.

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The XAUUSD price action on the daily time frame printed a bullish candlestick on Friday to retest the 3357.42 horizontal resistance area. Technically, we may still see further northward market engineering before a bearish correction.

Attached Image (click to enlarge)

The XAUUSD price action on the H4 time frame is tackling the 3357.42 horizontal resistance area. Recent technical prints favour further northward market engineering.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame printed a bearish continuation candlestick last week. Although, presently, the market operation is tackling the 142.530 horizontal support, technically we may still see further bearish momentum.

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The USDJPY price action on the daily time frame is bearish. On Friday, price action broke down a minor area of consolidation. Although, presently, the price action is located at the 142.530 horizontal support, the technical impulse favours bears more than bulls. And we may still see further southward market engineering.

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Although, presently, the USDJPY price action on the H4 is tackling the 142.530 horizontal support, the technical impulse and recent technical pattern favour further southward drive.

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I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

Last week, the EURUSD market operation on the weekly time frame printed a bullish candlestick to retest the 1.13590 horizontal resistance area. The area was flipped from support to resistance three weeks ago. Technically, we may still see further northward market engineering.




The EURUSD price action on the daily time frame is tackling the 1.13590 horizontal resistance. Recent technical prints and price action favours furter northward market engineering.




The EURUSD price action on the H4 time frame is tackling the 1.13590 horizontal resistance. We may still see further northward market engineering for liquidity grab.




I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

Last week, the GBPUSD market operation on the weekly time frame printed a bullish candlestick to break out of an area of consolidation that had been in place for four weeks. There is still room northward for liquidity grab.

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The GBPUSD price action on the daily time frame is bullish. On Friday, the price action printed a relatively big bullish candlestick. The technical impulse favours further northward momentum.

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The GBPUSD price action on the H4 time frame is bullish. The technical impulse favours further northward market engineering.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

After an extended bullish drive in May, the XAUUSD market operation on the monthly time frame printed a long doji-like candlestick. The candlestick closed at the 3288.80 horizontal resistance.

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The XAUUSD market operation on the weekly time frame went sideways last week at the 3288.80 area. What market operation does in the 3366.20/3239.12 zone (purple) this week would be of interest to me.

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The XAUUSD price action on the daily time frame is sideways at the 3288.80 intra-day horizontal support. The 3366.20/3239.12 zone (purple) is serving as a consolidation channel, and we may still see further southward drive in the early part of this week.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

USDJPY Weekly Technical Outlook

In May, the USDJPY market operation on the monthly time frame printed a bearish pinbar after a retest of the 142.000 horizontal support area. The area is part of the larger 142.00/140.00 horizontal support zone (green).

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The USDJPY market operation on the weekly time frame went sideways last week after a bullish challenge to the bearish drive of two weeks ago. Recent technical prints favour further southward market engineering. Nevertheless, we cannot rule out patterns of bullish correction along the way.

Attached Image (click to enlarge)

The USDJPY price action on the daily time frame went sideways after a bearish retest of the 143.996 intra-day horizontal support. Recent technical prints favour southward market engineering.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

The EURUSD market operation on the monthly time frame printed a bullish pinbar in May. The candlestick closed at the 61.8 fib-retracement area of the bearish swing traceable to May 2021. Technically, the candlestick pattern favours further northward momentum, but we will still have patterns of bearish correction along the way.

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Last week, the EURUSD market operation on the weekly time frame printed a bullish pinbar. The candlestick closed at the 1.13460 horizontal resistance, which is proximal to the 61.8 fib-retracement area of the bearish swing traceable to May 2021. Technically, this pattern favours further northward momentum, but we may see a southward retest of an intra-day value area before further northward drive.

Attached Image (click to enlarge)

The EURUSD price action on the daily time frame went sideways on Friday after a bullish retest of the 1.13460 horizontal resistance. Recent technical prints favour further northward momentum, but we may see a retest of an intra-day value area in the early part of this week before further northward drive.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

In May, the GBPUSD market operation on the monthly time frame printed an indecision candlestick in the form of a spinning top. The candlestick closed at the 1.34500 horizontal resistance area, which was flipped from support in March 2022. The area is also aligned with the 78.6 fib-retracement of the bearish swing traceable to May 2021.

Attached Image (click to enlarge)

The GBPUSD market operation on the weekly time frame went sideways last week after a bearish challenge of the bullish drive that breached the 1.34500 horizontal resistance two weeks ago. Although we may still see some southward movement of market operation, recent technical prints favour bulls more than bears.

Attached Image (click to enlarge)

The GBPUSD price action on the daily time frame is sideways at the 1.34500 intra-day horizontal support. Although we cannot rule out southward market engineering in the early part of this week, recent technical prints favour bulls more than bears.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

all tp touched with perfect profit

@signal_apadana
tlgrm