EURUSD Weekly Technical Outlook
EURUSD market operation is still in a bearish mode. On the weekly time frame, market operation printed a bearish continuation candlestick last week. We can expect further southward move; the 1.05100 horizontal support area (green) is a potential target for bearish ambition.
EURUSD price action on the daily time frame is bearish. Although bulls are presently challenging the southward move, the technical structure is bearish. Further southward drive may target the 1.05100 horizontal support area (green).
EURUSD price action on the H4 time frame is technically disposed southward. Recent technical prints favour further southward market engineering.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Outlook
XAUUSD market operation on the monthly time frame is bearish. In May, market operation printed a relatively long-shadow bearish candlestick that rejected the 2033.100/2049.870 major horizontal resistance zone (purple). Its relatively moderate tail dipped into the 1962.150/1927.900 horizontal support (green).
XAUUSD market operation on the weekly time frame is bearish. Presently, it is retesting the 1962.150/1927.900 horizontal support (green) seen on the monthly time frame.
The recent technical pattern of XAUUSD price action, with bearish break of structure and a bearish technical impulse restored on Friday, favours bears than bulls. Technically, any northward move would be corrective, giving way to a southward turnaround.
I may be wrong. Trade safe and prosper.
Trap
USDJPY Weekly Technical Outlook
USDJPY market operation on the monthly time frame is bullish. In May, market operation printed a bullish candlestick that broke above the 133.395/136.390 consolidation zone (green).
USDJPY market operation on the weekly time frame is bullish but presently experiencing a bearish pushback. Technically, as the market structure is bullish we can expect further northward market engineering towards the area of market imbalance (purple) created by the relatively big bearish candlestick on the left side of the chart.
USDJPY price action on the daily time frame is bullish. There was a bearish dip in the early part of last week as bullish price action approached the next area of structure, the 141.180/142.190 area (blue). With the bullish print on Friday, we may see a continuation of northward move in the early part of this week.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
EURUSD market operation on the monthly time frame is bearish. Market operation printed a bearish candlestick in May, which created a supply at the 1.10765/1.07968 zone (purple). However, there is a decline in bearish momentum.
EURUSD market operation on the weekly time frame is bearish. However, the bearish continuation candlestick printed two weeks ago was not followed-through last week as market operation printed an indecision candlestick. Presently, market operation is still navigating the 61.8 Fib zone of the recent bearish swing.
Although EURUSD price action on the daily time frame is presently sideways, the technical structure is bearish. Price action is navigating the 61.8 Fib zone of the recent bearish swing on the weekly time frame.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
GBPUSD market operation is in a bearish technical structure on the monthly time frame. However, it is in a consolidation mode within the 61.8 Fib retracement area of the recent bearish swing.
GBPUSD market operation on the weekly time frame is consolidating within the 61.8 Fib retracement area of the recent bearish swing.
GBPUSD price action on the daily time frame is presently sideways. It is tackling the 1.26170/1.23490 major horizontal resistance zone (purple) found on the monthly timeframe. The dominant technical structure is bearish.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Outlook
XAUUSD market operation on the weekly time frame assumed a bullish mode last week as it retested the upper boundary of the 1962.150/1927.900 horizontal support zone (green).
XAUUSD price action on the daily time frame is in consolidation. Although the preceding technical impulse is bearish, price action is operating within the 1962.150/1927.900 horizontal support zone (green) and we may still see some northward market engineering.
XAUUSD price action on the H4 time frame is sideways but the technical impulse is favorably bearish. As price action is at the upper boundary of the 1962.150/1927.900 horizontal support zone (green), seen on the weekly time frame, we cannot rule out a northward liquidity grab before a southward turnaround.
I may be wrong. Trade safe and prosper.
Trap
USDJPY Weekly Technical Outlook
USDJPY market operation on the weekly time frame assumed a bearish mode after a bullish attack on the 140.550/142.200 horizontal resistance zone (blue). However, the candlestick printed last week is doji-like; technically indicating that bulls are still influential in the market.
USDJPY price action on the daily time frame is sideways. There was a bullish charge at the 140.550/142.200 horizontal resistance zone (blue) before a bearish pushback. Technically, we cannot rule out further northward drive of price action.
USDJPY price action on the H4 time frame is presently sideways. But as the preceding technical impulse is bullish, we may see further northward drive. Any bearish dip would give way to a bullish rotation.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
GBPUSD market operation on the weekly time frame issued a bullish print last week. Nevertheless, it is still tackling the 1.23490/1.26170 horizontal resistance zone (purple); a zone which has remained intact for several weeks. The dominant technical structure is bearish.
GBPUSD price action is in a bullish mode, but it is facing increasing bearish challenge as it tackles the upper boundary of the 1.23490/1.26170 major horizontal resistance zone (purple); a zone which has remained intact for several weeks. Although the dominant technical structure is bearish, as a medium-term swing trader, I will not be trading this pair until I see an upward liquidity grab at an area of value followed by a bearish change of character on the H4/H1 time frame.
GBPUSD price action on the H4 time frame is in a bullish mode but the dominant technical structure is bearish. Nevertheless, we may still see further northward price action in the early part of this week before a southward rotation.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
EURUSD market operation on the weekly time frame is sideways. However, it is still operating in the 61.8 Fib zone of the dominant bearish swing. Last week’s technical print was bullish but was relatively small.
The 1.07900 area (blue) has continued to serve as horizontal resistance on the daily time frame. The bullish print of last Thursday failed to break above the area, and bears resisted further upward move with a bearish print on Friday. Technically, price action is still operating in a bullish retracement zone traceable to the monthly time frame. We may still see further northward corrective move before a southward rotation.
EURUSD price action on the H4 time frame is presently sideways but the most recent technical impulse was bullish. Nevertheless, as the dominant technical structure is bearish, any northward drive would be a market engineering to an area of value and would give way to a bearish turnaround.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Outlook
XAUUSD market operation on the weekly time frame is ranging within the 1962.150/1927.900 horizontal support zone (green). There was a bearish surge into the zone four weeks ago before bulls resisted a breakdown of the zone. Market operation printed a dragon fly doji-like candlestick in the area last week; its relatively long tail technically portends further southward market engineering.
XAUUSD price action on the daily time frame is ranging within the 1962.150/1927.900 horizontal support zone (green). However, the preceding technical impulse is bearish. A possible target of further bearish charge is the 1895.400/1915.300 demand zone (blue).
XAUUSD price action on the H4 time frame is sideways at the upper boundary of the 1962.150/1927.900 horizontal support zone (green). Recent technical prints favour a southward liquidity engineering.
I may be wrong. Trade safe and prosper.
Trap
USDJPY Weekly Technical Outlook
USDJPY market operation on the weekly time frame is bullish. Presently, it is at the upper part of the 140.550/142.200 horizontal resistance zone (blue).
USDJPY price action on the daily time frame is bullish. However, it is tackling the 140.550/142.200 horizontal resistance zone (blue) seen on the weekly time frame.
USDJPY price action on the H4 time frame is in a bullish mode. Although we may still see a further northward move, we cannot rule out a bearish correction as price action tackles the upper part of the 140.550/142.200 horizontal resistance zone (blue) seen on the weekly time frame.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
EURUSD market operation on the weekly time frame printed a bullish candlestick last week as it surged towards the upper part of the 1.07900/1.10765 horizontal resistance zone (blue) seen on the monthly time frame. However, the dominant technical structure on the weekly time frame is still bearish.
EURUSD price action on the daily time frame is in a bullish mode. It is presently tackling a minor horizontal resistance but there is still potential for northward liquidity engineering at the upper area of the 1.07900/1.10765 horizontal resistance zone (blue).
Although EURUSD price action on the H4 time frame is presently sideways, the technical impulse is bullish. Therefore, technically, we can expect further northward move in the early part of this week.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
GBPUSD market operation on the weekly time frame is bullish. It printed a bullish continuation candlestick last week, which broke above the 1.26694 horizontal resistance area (blue). However, the dominant technical structure on the weekly time frame is still bearish.
GBPUSD price action on the daily time frame is bullish. The technical impulse still favours further northward move although the dominant technical structure is bearish. Much likely we may see a retest of the 1.31300/1.29800 supply zone (purple), but we cannot rule out bearish correction in the process.
GBPUSD price action on the H4 time frame is bullish. The technical impulse favours bullish continuation.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Ouylook
XAUUSD market operation regained a bearish mode last week after ranging for about three weeks. The bearish print of last week surged to the 1915.300/1895.400 horizontal support zone (blue) before snapping back. This, technically, shows that bulls are defending the zone.
XAUUSD price action on the daily time frame turned sideways on Friday after a bearish charge at the 1915.300/1895.400 horizontal support zone (blue). Although we may still have further southward move, we can expect limited bearish momentum as bulls challenge a breakdown of the zone. The 1859.800 area (sandy brown) may be a medium/long-term target of a bearish breakdown of the zone.
The XAUUSD price action on the H4 time frame is sideways. Presently, it is tackling the 1915.300/1895.400 horizontal support zone (blue) seen on the weekly time frame. We may still see a northward move to an area of value before a southward continuation.
I may be wrong. Trade safe and prosper.
Trap
USDJPY Weekly Technical Outlook
USDJPY market operation continues to dispose northward. On the weekly time frame, market operation printed a bullish continuation candlestick last week after the bullish break of the 140.550/142.200 horizontal resistance zone (blue) the previous week.
USDJPY price action on the daily time frame regained a bullish mode towards the end of last week after breaking out of the 140.550/142.200 horizontal resistance zone (blue) within which it was ranging. Meanwhile, it is tackling the 143.740 immediate barrier. Although we may still see corrective price action, the technical structure favours further northward move.
USDJPY price action on the H4 time frame is bullish. The technical impulse favours bulls more than bears, and we can expect bearish price action to be temporary in nature.
I may be wrong. Trade safe and prosper.
Trap
GBPUSD Weekly Technical Outlook
GBPUSD market operation on the weekly time frame issued a bearish rejection candlestick last week. This was in opposition to the bullish charge of the previous week towards the 78.6 Fib retracement area of the dominant bearish swing. Presently, market operation is tackling the 1.26690 horizontal support area (blue).
GBPUSD price action is sideways a few pips above the 1.26690 horizontal support area (blue). Although the dominant technical structure is bearish, we cannot rule out a northward liquidity sweep before a bearish continuation.
GBPUSD price action on the H4 time frame is sideways. Although the most recent technical impulse is bearish, as the price action is presently a few pips above the 1.26690 horizontal support area (blue), we cannot rule out a northward move.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
EURUSD market operation on the weekly time frame issued a doji-like candlestick, with a bearish tinge, last week. This was in opposition to the bullish charge of the previous week towards the 78.6 Fib retracement area of the dominant bearish swing. Nevertheless, as market operation is still within the 1.10765/1.07900 horizontal resistance zone (blue)we may not yet have bearish directional momentum.
EURUSD price action on the daily time frame is in a bearish mode but may face a bullish challenge at the 1.07900 area of value. The dominant technical structure is bearish.
The recent technical structure of EURUSD price action on the H4 time frame is bearish. However, bulls are challenging further southward move as price action gets to the 1.07900 minor horizontal support area (blue). The dominant technical structure is bearish.
I may be wrong. Trade safe and prosper.
Trap
XAUUSD Weekly Technical Outlook
XAUUSD market operation on the weekly time frame is still bearish. But the bearish momentum has declined as market operation tackles the 1915.300/1895.400 immediate horizontal support zone (blue). Market operation surged into the zone last week, but bulls resisted a breakdown of the zone, leading to the printing of an indecision candlestick in the zone.
XAUUSD price action on the daily time frame is tackling the 1915.300/1895.400 horizontal support zone (blue). Presently, it is sideways within the zone. Although we cannot rule out a northward market engineering, as the dominant technical structure is bearish, such northward move would give way to a bearish rotation.
XAUUSD price action on the H4 time frame is in a northward mode. Although we may see further northward move to retest an area of value, the dominant technical structure is bearish.
I may be wrong. Trade safe and prosper.
Trap
USDJPY Weekly Technical Outlook
USDJPY market operation maintains a bullish mode after breaking above the 140.550/142.200 previous horizontal resistance zone (blue) on the weekly time frame. Market operation printed a bullish continuation candlestick last week, but the candlestick was miniature; indicating that bears were hindering bullish momentum.
USDJPY price action on the daily time frame is presently sideways but the preceding technical impulse is bullish. We may see further northward move in the early part of this week, which may see a bullish break of the145.580/146.800 daily supply (red) before a bearish correction.
Although USDJPY price action on the H4 time frame is sideways, the dominant technical impulse is bullish. We can expect a further northward move in the early part of this week.
I may be wrong. Trade safe and prosper.
Trap
EURUSD Weekly Technical Outlook
EURUSD market operation on the weekly time frame turned sideways last week after a bullish surge above the 61.8 Fib retracement of the dominant bearish swing. Technically, bears are still more favoured than bulls, but we cannot rule out a northward corrective move before further bearish drive.
EURUSD price action on the daily time frame has turned sideways. A few days ago, price action made a bullish surge above the 1.07900 area (blue), which coincides with the 61.8 Fib retracement of the dominant bearish swing on the weekly time frame. Although the present sideway of price action represents a pause in directional momentum, we cannot rule out further bullish move for liquidity grab before a bearish rotation. The 1.10765 area (red) is the next significant horizontal resistance and coincides with the 78.6 Fib retracement of the dominant bearish swing on the weekly time frame.
EURUSD price action on the H4 time frame is ranging. It is within the 61.8/78.6 fib retracement zone of the dominant bearish swing on the weekly time frame.
I may be wrong. Trade safe and prosper.
Trap
