Weekly Top-Down Technical Analyses

EURUSD Weekly Technical Outlook

Last week, the EURUSD market operation on the weekly time frame printed a bearish candlestick that retested the1.14795 area. However, technically, the market operation is in consolidation just above the 1.14795 horizontal support.

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The EURUSD price action on the daily time frame went sideways at the 1.14795 horizontal support after a bearish drive to the area in the early part of last week. Technically, we cannot rule out further southward drive in the early part of this week.

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Although the EURUSD price action on the H4 time frame is presently sideways, the technicals favour bears more than bulls.

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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 around the 1.30877 horizontal support area. Technically, we may still see further southward market operation.

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The GBPUSD price action on the daily time frame is sideways at the 1.30877 horizontal support. As the technicals favour bears more than bulls, we may still see further southward price action in the early part of this week.

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The GBPUSD price action on the H4 time frame is sideways at the 1.30877 horizontal support. As technicals favour bears more than bulls, we may still see further southward price action in the early part of this week.

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I may be wrong. Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the monthly time frame is bullish. In November, the market operation printed a bullish continuation candlestick

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The XAUUSD market operation on the weekly time frame has resumed a bullish mode after a bearish correction. However, the market operation is tackling the 4218.95 horizontal resistance area.

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The XAUUSD price action on the daily time frame is in a bullish mode but presently tackling the 4218.95 horizontal resistance. Nevertheless, we can still see further northward market engineering.

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I may be wrong. Trade safe and prosper.

KP

USDJPY Weekly Technical Outlook

The USDJPY market operation on the monthly time frame printed a bullish continuation candlestick in November. Presently, the market operation is at the 156.121 horizontal resistance area.

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Last week, the USDJPY market operation on the weekly time frame printed an indecision candlestick at the 156.121 horizontal resistance area. This was after a bullish drive that broke above the area two weeks ago.

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The USDJPY price action on the daily time frame went sideways at the 156.121 intra-day horizontal support after a bearish retest on Tuesday. We cannot rule out further southward price action in the early part of this week.

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I may be wrong. Trade safe and prosper.

KP

EURUSD Weekly Technical Outlook

The EURUSD market operation on the monthly time frame went sideways in November after a bullish retest of the broken down 1.15750 area. There was a bearish breakdown of the area in October, flipping it to a horizontal resistance.

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The EURUSD market operation is sideways at the 1.15750 area. The market operation has been sideways in the area for a few weeks. Last week, the market operation printed a bullish candlestick in the area as opposed to the bearish candlestick of two weeks ago.

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The EURUSD price action on the daily time frame went sideways at 1.15950 intra-day horizontal resistance area after a bullish retest on Wednesday. Recent technical prints favour a southward liquidity engineering.

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I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the monthly time frame went sideways at the 1.32250 area in November after a bullish retest. There was a bearish breakdown of the area in October, flipping it to a horizontal resistance.

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The GBPUSD market operation on the weekly time frame is sideways. Presently, the market operation is tackling the 1.32250 horizontal resistance.

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The GBPUSD price action on the daily time frame went sideways at the 1.32250 horizontal resistance towards the end of last week after a strong bullish retest of the area on Wednesday. Technically, bears ae challenging further bullish drive and we may soon see a southward turnaround 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 went sideways last week at the 4197.42 horizontal resistance area. There was a bullish retest of the area two weeks ago.

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The XAUUSD price action on the daily time frame is sideways at the 4197.42 horizontal resistance. What price action does in the area at Monday close could be important for directional trading.

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The XAUUSD price action on the H4 time frame is tackling the 4197.42 intra-day horizontal support. We cannot rule out a short-term southward liquidity engineering before a northward turnaround.

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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 went sideways at the 155.320 horizontal support area after a bearish retest.

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The USDJPY price action on the daily time frame is sideways at the 155.320 intra-day horizontal resistance after a bullish retest. We may still see further southward price action in the early part of this week.

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The USDJPY price action on the H4 time frame is sideways at the 155.320 intra-day horizontal resistance. Technically, price action is at the upper channel line of a falling channel (magenta). We may see a southward rotation in the area.

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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 issued a miniature bullish candlestick to retest the 1.16420 horizontal resistance area. Technically, the market operation is still below the 78.6 fib retracement of the bearish swing traceable to May 2021.

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The EURUSD price action on the daily time frame is sideways below the 78.6 fib retracement of the bearish swing traceable to May 2021. But technically, we may still see southward price action in the early part of this week.

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Although the EURUSD price action on the H4 time frame is presently sideways at the 1.16420 intra-day horizontal support, recent technical prints favour a southward liquidity engineering.

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I may be wrong. Trade safe and prosper.

KP

If the market continues it bullish trend am hoping it reaches 156.000 and if there is a reversal trend, I hope 154.500 support zone still hold. Awaiting buy limit at the zone

GBPUSD Weekly Technical Outlook

Last week, the GBPUSD market operation on the weekly time frame printed a relatively small bullish candlestick to retest the 1.33260 horizontal resistance area. Technically, the market operation is still below 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 went sideways on Friday at the 1.33260 horizontal resistance after a bullish drive above the area on Wednesday.
Technically, this represents a retest of 78.6 fib retracement of the most recent bearish swing, and it is still below the 78.6 fib retracement of the bearish swing traceable to May 2021. Technically, we can expect further southward liquidity engineering in the early part of the week.

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Although presently the GBPUSD price action on the H4 time frame is sideways at the 1.33260 intra-day horizontal support, recent technical prints favour further southward price action.

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I may be wrong. Trade safe and prosper.

KP

Hello, mate! Good effort but I don't see a bullish trend.

Trade safe and prosper.

KP

XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame took on a bullish mode last week after its ambivalence two weeks ago.

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The XAUUSD price action on the daily time frame went sideways on Friday after a bullish drive to the 4299.18 area. We cannot rule out further northward price action before a southward correction.

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The XAUUSD price action on the H4 time frame went sideways at the 4299.18 area towards the end of last week after a bearish drive below it. We cannot rule out further northward price action before a southward correction.

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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 sideways at the 155.810 horizontal resistance area. There was a bullish break above the area four weeks ago. However, there was a bearish breakdown of the area two weeks ago. But the bullish candlestick printed last week broke above the area before closing at it.

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The USDJPY price action on the daily time frame is sideways at the 155.810 intra-day horizontal resistance area. Technically, we may not see much directional momentum.

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The USDJPY price action on the H4 time frame is sideways at the 155.810 intra-day horizontal resistance. Technically, there’s little room for directional price action.

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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 bullish mode. Last week, the market operation printed a relatively moderate bullish candlestick that broke above a minor area of consolidation.

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The EURUSD price action on the daily time frame went sideways on Friday after a bullish retest of the 1.17400 intra-day horizontal resistance. We may still see further northward price action. However, the price action is some pips below the next horizontal resistance, which is at the 1.17800 area.

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The EURUSD price action on the H4 time frame is sideways at the 1.17400 intra-day horizontal resistance. Nevertheless, we cannot rule out further northward market engineering.

Attached Image (click to enlarge)

I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame went sideways last week after a bullish retest of the 78.6 fib retracement area of the bearish swing traceable to May 2021. But the candlestick printed last week ended up being ambivalent.

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The GBPUSD price action on the daily time frame is sideways at the 1.33690 intra-day horizontal resistance. We may still see further northward price action, perhaps to retest an intra-day value area.

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The GBPUSD price action on the H4 time frame went sideways on Friday at the 1.33690 intra-day horizontal resistance. There was a bullish breakout from the area on Thursday, but a bearish correction thereafter met with a bullish pushback. Nevertheless, we may still see further northward price action in the early part of this week.

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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 made a bullish drive to the 4338.45 horizontal resistance area before turning sideways.




The XAUUSD price action on the daily time frame is sideways at the 4338.45 horizontal resistance. We cannot rule out further northward price action before a southward correction.




Although the XAUUSD price action on the H4 time frame is sideways at the 4338.45 intra-day horizontal support, we cannot rule out further northward price action before a southward correction.




I may be wrong. Trade safe and prosper.

KP

USDJPY Weekly Technical Outlook

Last week, the USDJPY market operation put on a bullish mode to retest the 157.710 horizontal resistance area. There has been sideways of market operation for two weeks before the bullish drive to the area last week. And the relatively moderate bullish candlestick printed last week has a prominent tail, which technically favours bulls more than bears.

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On Friday, the USDJPY price action on the daily time frame made a bullish breakout from an intra-day area of consolidation to retest the 157.710 horizontal resistance. Technically, we may see a bullish follow-through to retest the next significant horizontal resistance at the 160.150 area (red)

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The USDJPY price action on the H4 time frame is in bullish mode. It is presently tackling the 157.710 horizontal resistance, but we may still see further northward liquidity engineering, perhaps to retest the significant horizontal resistance at the 160.150 area.

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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 issued an indecision candlestick after a retest of the 1.17810 horizontal resistance area. The area is proximal to the 78.6 fib retracement of the bearish swing traceable to May 2021. Technically, the area is susceptible to a southward market operation.

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The EURUSD price action on the daily time frame turned sideways at the 1.17090 intra-day horizontal support after a southward drive, an area that is proximal to the 78.6 fib retracement of the bearish swing traceable to May 2021. Although there is little or no directional momentum, we may still see further southward price action to retest an intra-day value area.

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The EURUSD price action on the H4 time frame is tackling the 1.17090 intra-day horizontal support after a southward drive. Recent technical prints favour further southward price action, perhaps to retest an intra-day value area.

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I may be wrong. Trade safe and prosper.

KP

GBPUSD Weekly Technical Outlook

Last week, the GBPUSD market operation on the weekly time frame went sideways at the 1.33740 horizontal resistance area after a retest of the 78.6 fib retracement of the bearish swing traceable to May 2021. Technically, the area is susceptible to a southward correction.

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The GBPUSD price action on the daily time frame is sideways at the 1.33740 intra-day horizontal support area. Recent technical prints favour further southward price action.

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The GBPUSD price action on the H4 time frame is tackling the 1.33740 area. There was sideways price action in the area towards the end of last week, but we may still see further southward price action

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I may be wrong. Trade safe and prosper.

KP