USDJPY Weekly Technical Outlook
The USDJPY market operation on the weekly time frame is bullish. Last week, the market operation printed a bullish continuation candlestick after its rejection of an outer rising trend line (magenta). Presently, the market operation is at the 146.050 horizontal resistance area. But we may still see further northward momentum.
The USDJPY price action on the daily time frame is in bullish mode. Presently, it is tackling the 146.050 horizontal resistance area, but we may see a northward market engineering to an intra-day area of value before a southward correction.
The USDJPY price action on the H4 time frame is in bullish mode. Recent technical prints favour further northward momentum.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
Last week, the EURUD market operation on the weekly time frame printed a relatively long doji-like candlestick. The candlestick closed at the 1.1521 horizontal resistance area.
The EURUSD price action on the daily time frame is sideways at the 1.1521 horizontal resistance area. There was a bearish breakdown of the area on Tuesday. But on Friday, a bullish retest of the area was feeble and lacked momentum. Thus, the area remained an intra-day horizontal resistance.
The EURUSD price action on the H4 time frame is sideways at the 1.1521 intra-day horizontal resistance. But the operating technical impulse favours bears more than bulls.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
The GBPUSD market operation on the weekly time frame is in consolidation within the 1.3415/1.3614 horizontal channel (purple). Last week, the market operation printed a bearish candlestick that retested the lower boundary of the channel.
The GBPUSD price action on the daily time frame is sideways at the 78.6 fib-retracement area of the bearish swing traceable to May 2021. There was a bearish drive to the area on Tuesday, but Friday saw the printing of an indecision candlestick in contrast to the relatively small bullish print of Thursday. The technical impulse favours bears more than bulls.
The GBPUSD price action on the H4 time frame is restoring its bearish disposition after a bullish correction. Presently, the price action is tackling the 1.3443 intra-day horizontal support. But the preceding technical impulse favours bears, and we may see further southward momentum in the early part of this week.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Outlook
The XAUUSD market operation on the weekly time frame is bearish. But at present it is tackling the 3272.30 horizontal support area.
The XAUUSD price action on the daily time frame assumed a bearish mode on Friday after an intra-day consolidation. But at present it is tackling the 3272.30 horizontal support area. Nevertheless, recent technical prints favour further southward drive.
Although the XAUUSD price action on the H4 time frame is at present sideways at the 3272.30 horizontal support area, the operating technical impulse favours further southward drive. Nevertheless, we may still see a northward corrective move in the early part of this week before further southward drive.
I may be wrong. Trade safe and prosper.
Ytap
USDJPY Weekly Technical Outlook
The USDJPY market operation on the weekly time frame is presently consolidating in a rising wedge (magenta). Last week, the market operation printed a bearish candlestick to retest the 144.610 horizontal support area, which was flipped as support two weeks ago.
The USDJPY price action on the daily time frame is in a bearish mode. Presently, it is sideways at the 144.610 area after a brief bullish challenge. Recent technical prints favour further southward momentum.
The USDJPY price action on the H4 time frame is in a bearish mode. Presently, it is sideways at the 144.610 area. The operating technical impulse favours further southward drive.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
The EURUSD market operation on the weekly time frame is bullish. Last week, the market operation printed a relatively big bullish candlestick that retested the 78.6-fib retracement area of the bearish swing traceable to May 2021.
The EURUSD price action on the daily time frame is bullish. However, on Friday, the price action went sideways after retesting the 78.6-fib retracement area of the bearish swing traceable to May 2021. Technically, the bullish momentum is weakening. However, we may still see further northward movement in the early part of this week before a bearish correction.
The EURUSD price action on the H4 time frame went sideways after a bullish retest of the 78.6-fib retracement area of the bearish swing traceable to May 2021. Technically, we may still see further northward movement, but a bearish correction appears to be imminent.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
The GBPUSD market operation on the weekly time frame is bullish. Last week, the market operation printed a relatively big bullish candlestick that retested the 1.37100 horizontal resistance area, an area that was last visited in September 2022. The area is near the 88.6-fib retracement area of the bearish swing traceable to May 2021.
The GBPUSD price action on the daily time frame is bullish. However, on Friday, the price action went sideways after retesting the 1.37100 horizontal resistance area, an area that was last visited in September 2022. 2022. The area is near the 88.6-fib retracement area of the bearish swing traceable to May 2021. Technically, the bullish momentum is weakening. However, we may still see further northward movement in the early part of this week before a bearish correction.
The GBPUSD price action on the H4 time frame is in a bearish corrective mode. The price action had broken above the 1.37100 horizontal resistance area on Thursday, an area that was last visited in September 2022. 2022. But there was a bearish pushback to flip the area as an intra-day horizontal support. The last H4-session on Friday printed a bullish candlestick that restored the area as an intra-day horizontal resistance. Technically, the bullish momentum is weakening, but we may still see further northward movement in the early part of this week before a bearish drive.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Outlook
The XAUUSD market operation on the monthly time frame is sideways. In June, there was a bullish drive that broke above the doji-like candlestick printed in May. However, bears pushed back to challenge further northward drive, and the market operation resulted in the printing of an indecision candlestick.
The XAUUSD market operation on the weekly time frame is sideways. Two weeks ago, the market operation attempted a bearish retest of the 3239.12 horizontal support area. But last week, bulls resisted a breakdown of the area with a moderate bullish pullback. The 3239.12/3366.20 zone (purple) is the operating channel of consolidation.
The XAUUSD price action on the daily time frame is in consolidation. Presently, price action is at the 3337.10 intra-day horizontal resistance, which is a few pips below the upper boundary of the 3239.12/3366.20 horizontal channel (purple) seen on the weekly time frame. Technically, we may still see further northward market engineering in the early part of this week.
I may be wrong. Trade safe and prosper.
Trap
USDJPY Weekly Technical Outlook
The USDJPY market operation on the monthly time frame went sideways in June after printing a moderate-sized doji-like candlestick just above the 141.910/139.880 horizontal support zone (green). The market operation made a bearish retest of the zone in April, but there was no bearish follow-up in May as bulls resisted further southward drive and pushed back the market operation. Nevertheless, the market operation printed a bearish pinbar in May.
The USDJPY market operation on the weekly time frame is sideways at the 144.320 horizontal support area. This was after bulls made a bullish correction of the bearish drive to the 141.910/139.880 horizontal support zone (green), seen on the monthly time frame.
The USDJPY price action on the daily time frame is sideways at the 144.320 horizontal support. Recent technical prints support southward market engineering.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
The EURUSD market operation on the monthly time frame was bullish in June. The relatively big bullish candlestick printed in June retested the 78.6 fib-retracement area of the bearish swing traceable to May 2021.
The EURUSD market operation on the weekly time frame is bullish. But the bullish momentum is weakening. Two weeks ago, the market operation printed a relatively big bullish candlestick that retested the 78.6 fib-retracement area of the bearish swing traceable to May 2021. However, last week, the market operation printed a miniature bullish candlestick which closed just 27 pips above the high of the bullish candlestick printed two weeks ago.
The EURUSD price action on the daily time frame is sideways at the 1.17710 area. This area is just a few pips above the 78.6 fib-retracement area of the bearish swing traceable to May 2021. Recent technical prints favour a bearish correction.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
The GBPUSD market operation on the monthly time frame was bullish in June. The moderate-sized bullish candlestick printed in June threatened the 88.6 fib-retracement area of the bearish swing traceable to May 2021.
The GBPUSD market operation on the weekly time frame is sideways within the 78.6/88.6 fib-retracement zone of the bearish swing traceable to May 2021. Two weeks ago, the market operation printed a relatively big bullish candlestick within the zone. However, last week, bears pushed for a southward correction.
The GBPUSD price action on the daily time frame is sideways at the 1.36350 area. This area is about midway of the 78.6/88.6 fib-retracement zone of the bearish swing traceable to May 2021. Recent technical prints favour a southward market engineering.
I may be wrong. Trade safe and prosper.
Trap
