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Weekly Top-Down Technical Analyses

XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the monthly time frame is bearish. Not only did the bullish market drive in January produce further all-time highs, but it also resulted in more than 13000 pips of market operation within the month, the longest in years. However, there was a strong bearish pushback and the candlestick closed with a long upper wick.

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The XAUUSD market operation on the weekly time frame is experiencing a decline in bullish momentum. Two weeks ago, the market operation printed a moderate bullish candlestick. But last week the northward market operation was strongly resisted by a relatively strong bearish pushback, and this resulted in the printing of a long bearish pinbar that closed at the 4893.59 area. Technically, this indicates that a southward rotation is in the offing.

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The XAUUSD price action on the daily time frame has assumed a bearish mode. However, the overall market environment is still sideways. On Friday, the price action printed a relatively big bearish candlestick, but it has a prominent tail and closed at the 4893.59 area. We may see northward liquidity sweep to an area of market imbalance or an intra-day area of interest before further southward drive of price action.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
USDJPY Weekly Technical Outlook

The USDJPY market operation on the monthly time frame is technically sideways. In January 2026, the market operation attempted a retest of the 160.151 long-term horizontal resistance area (red) but failed. Then a bearish drive saw the market operation break below the 155.975 horizontal support area before retracing, this resulted in the printing of a bearish candlestick with prominent shadows on both ends.

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Last week, the USDJPY market operation on the weekly time frame printed a bullish pinbar at the 154.758 area after a bearish breakdown. Technically, the USDJPY market operation on the weekly time frame is sideways. Two weeks ago, there was a strong bearish drive that broke down the 154.758 horizontal support area, but further southward drive last week was negated by a strong bullish pushback.

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The USDJPY price action on the daily time frame is sideways. However, recent technical prints favour a bullish drive to retest an intra-day area of value before a southward rotation.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
EURUSD Weekly Technical Outlook

In January 2026, the EURUSD market operation on the monthly time frame broke above the 88.6 fib retracement area of the bearish swing traceable to May 2021 before a bearish pushback. This resulted in the printing of a relatively long indecision candlestick with prominent wicks on both ends. Technically, the 1.19200 area is still holding as a significant resistance.

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The EURUSD market operation on the weekly time frame printed a relatively long indecision candlestick with a very prominent wick on the upper end, somewhat of a long bearish pinbar. Technically, we can see a northward pullback of market operation before further southward market drive.

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The EURUSD price action on the daily time frame is technically sideways. There was a bullish drive above the 1.19200 intra-day horizontal resistance (red) on Tuesday but the bearish challenge on Wednesday started the southward price action that retested the low of the bullish candlestick printed on Tuesday at the 1.18490 area. We may see a bullish price action in the early part of this week before further southward market engineering.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
GBPUSD Weekly Technical Outlook

The GBPUSD market operation printed a bullish candlestick in January that retested the 88.6 fib retracement area of the bearish swing traceable to May 2021. The area is proximal to the 1.37640 horizontal resistance area. However, the candlestick has shadows on both ends.

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Last week, the GBPUSD market operation on the weekly time frame broke above the 1.37640 horizontal resistance area to retest the 88.6 fib retracement area of the bearish swing traceable to May 2021. But the bullish drive met a strong bearish challenge, and this resulted in the market operation printing a long bearish pinbar. Technically, we may still see further northward price action before a southward rotation.

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The GBPUSD price action on the daily time frame is technically sideways. There was a bullish drive above the 1.38280 intra-day horizontal resistance (red) on Tuesday but the bearish challenge on Wednesday started the southward price action that retested the 1.36815 intra-day horizontal support. Nevertheless, the bearish print of Friday failed to break below the low of the bullish print of Tuesday. We may see a bullish price action in the early part of this week before further southward market engineering.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
Special Announcement

Owing to unforeseen circumstances, I was not able to do the weekly technical analyses of the forex pairs I follow. Therefore, this thread will not feature the weekly technical analyses on EURUSD, GBPUSD, USDJPY and XAUUSD this week. I apologize.

Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
Special Announcement Owing to unforeseen circumstances, I was not able to do the weekly technical analyses of the forex pairs I follow. Therefore, this thread will not feature the weekly technical analyses on EURUSD, GBPUSD, USDJPY and XAUUSD this week. I apologize. Trade safe and prosper. KP
Hope all's well KP.
Mallee
Thanks mate.

I'm happy with your progress on FF. Keep it up.

I will be back with the weekly techncal analyses on Sunday.

Trade safe and prosper.

KP

{quote} Hope all's well KP. Mallee
Do your homework, follow the footprints of smart money
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame turned sideways at the 5042.18 horizontal resistance after a bullish retest. Technicals favour further bullish market operation, perhaps to retest the 61.8 fib retracement of the long-tailed bearish candlestick printed three weeks ago, before a southward turnaround.

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The XAUUSD price action on the daily time frame is sideways just below the 5042.18 horizontal resistance. Recent technical prints favour further northward price action perhaps to retest an area of market imbalance.

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Although the XAUUSD price action on the H4 time frame is sideways at the 5042.18 horizontal resistance, we may still see further northward liquidity engineering to an intra-day area of interest.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame is in a bearish mode. Last week, the market operation printed a relatively large bearish candlestick to retest the 152.650 horizontal support area.

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The USDJPY price action on the daily time frame went sideways at the 152.650 horizontal support after a bearish retest. Recent technical prints favour further southward price action, but we cannot rule out a brief northward pullback of price action before a bearish turnaround.

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The USDJPY price action on the H4 time frame is sideways at the 152.650 horizontal support. We may see further southward liquidity engineering to an intra-day area of interest.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame is sideways. Last week, there was a bearish retest of the 1.19200 horizontal resistance area (red) after a bearish breakdown three weeks ago. The area is proximal to the 88.6 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 at the 1.18680 intra-day horizontal support. On Monday, there was a bullish break above the area to retest the 1.19200 horizontal resistance (red). However, on Tuesday and Wednesday bears resisted the bullish drive and pushed back price action for a retest of the 1.18680 intra-day horizontal support. The technical prints in the area on Thursday and Friday were doji-like. Nevertheless, we cannot rule out further bearish 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 1.18680 intra-day horizontal support, the immediate technical impulse is bearish, and we may still see further bearish price action in the early part of this week.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame is sideways. Last week, there was a bullish retest of the 1.36460 short-term horizontal resistance area after a bearish breakdown two weeks ago. The area is below the 88.6 fib retracement of the bearish swing traceable to May 2021. The technical print of a bearish pinbar three weeks ago, that broke below the 1.37640 longer-term horizontal resistance area (purple), favours bears more than bulls.

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The GBPUSD price action on the daily time frame is sideways at the 1.36460 intra-day horizontal resistance. On Monday, there was a bullish break above the area, then bears pushed back for a bearish breakdown, but their attempts were feeble and, on Friday, bulls retested the area. However, recent technical prints favour further southward price action, at least on a short-term basis.

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The GBPUSD price action on the H4 time frame is sideways at the 1.36460 intra-day horizontal resistance. However, recent technical prints favour further southward price action, at least on a short-term basis.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
XAUUSD Weekly Technical Outlook

The XAUUSD market operation on the weekly time frame is in a bullish mode. Recent technical prints have been more favorablre to bulls than bears.

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The XAUUSD price action on the daily time frame is retesting the 5106.83 intra-day horizontal resistance. Recent technical prints favour further northward market engineering, perhaps to an intra-day area of value, before a southward turnaround.

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The XAUUSD price action on the H4 time frame retested the 5106.83 intra-day horizontal resistance on Friday. Recent technical prints favour northward liquidity engineering, perhaps to an intra-day area of value, before a southward turnaround.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
USDJPY Weekly Technical Outlook

The USDJPY market operation on the weekly time frame printed a relatively moderate bullish candlestick last week. This contrasted with the relatively big bearish print of two weeks ago.

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The USDJPY price action on the daily time frame went sideways at the 155.055 intra-day horizontal resistance after a bullish retest. Technically, we cannot rule out further northward 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 155.055 intra-day horizontal resistance. 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
Do your homework, follow the footprints of smart money
EURUSD Weekly Technical Outlook

The EURUSD market operation on the weekly time frame printed a relatively small bearish candlestick last week. However, the market operation is still consolidating. The market operation is tackling the 1.17810 horizontal support area.

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The EURUSD price action on the daily time frame is sideways at the 1.17810 horizontal support. A significant breakdown of the area on a daily closing basis may lead to further southward drive.

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The EURUSD price action on the H4 time frame went sideways at the1.17810 intra-day horizontal resistance after a brief bullish retest. Technically, we may still see further, but brief, bearish price action in the early part of this week.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
GBPUSD Weekly Technical Outlook

The GBPUSD market operation on the weekly time frame printed a relatively moderate bearish candlestick last week. The market operation retested the 1.34780 horizontal support area.

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The GBPUSD price action on the daily time frame is sideways at the 1.34780 horizontal support. The area is a few pips above the 78.6 fib retracement area of the bearish swing traceable to May 2021. Technically, we may not see much directional price action in the early part of this week.

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The GBPUSD price action on the H4 time frame went sideways at the 1.34780 intra-day horizontal resistance after a brief bullish retest. Technically, we may not see much directional price action in the early part of this week.

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I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money