Weekly Forex Outlook & Review – 26th to the 30th of June

Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition of the review for the 26th to the 30th of June. Aspects highlighted in the review include highlighting potential opportunity areas ( high probability trend and counter trend trading areas ), management point areas and targets.

Also, I take a look how the price action moved last week on multiple markets.

Pairs and Markets Analysed this Week: EURUSD ( 4 Hour ), AUDUSD, USDJPY ( 4 Hour ), GBPJPY, CADCHF, AUDCHF, CHFJPY, Silver and Gold.

For economic events this week click here.

Expecting another great week in the market with plenty of potential opportunities.

 
Above Video – Weekly Forex Outlook and Review for the 26th to the 30th of June Forex Market

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eurusd 4 hour

Above – Highlighting on EURUSD this week a potential management point and long term target area to the upside for those holding buy trades on this market. Plus, I highlight the 1.1363 zone area as a great area on this market to look for bearish evidence and potential bearish opportunities.

gbpjpy daily trading areas

Above – Highlighting on GBPJPY a potential pullback area which is the 142.72 zone area as a great area on this market to look for bearish evidence if the market tests this area this week and a potential move to the downside from this area.

audchf daily trading areas

Above – Highlighting on AUDCHF this week a potential pullback area on this market which is the 0.73 zone area, a great area on this market to look for bullish evidence and a potential move to the upside, potentially all the way up to the previous high area or all the way up to the 0.7484 zone area.

chfjpy daily trading areas

Above – Highlighting on CHFJPY the 115 zone area as a great area on this market to look for bearish evidence and a potential move to the downside from this area. The 115 zone area is an area on this market that has acted as strong resistance on this market 6 times in the recent past looking left ( as seen on above chart ).

silver daily trading areas

Above โ€“ย Highlighting on Silver this week two zones:

  1. The 17.12 zone area as a great area on this market to look for bearish evidence and a potential move to the downside from this area.
  2. The 15.87 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

Midweek Forex Reviews

Come back and check below for potential upcoming Midweek Reviews ( video or comment updates ) in the week ahead.
They will be added below. Have great trading week everyone and Happy Trading.

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

For more on Timon Weller Click Here. To Learn more about How to Trade the Market and get updates Click Here.

Comments

  1. Thank you Timon for an excellent weekly review. As always I appreciate the exceptional approach you use to present potential trades for the forthcoming week. Cheers mate JOhnR

  2. Thanks Timon and I hope you have profitable trading week.

  3. Hi Timon, thanks for the review. It is appreciated. Have a great trading week.

  4. Thanks a million Timon for the weekly review.

  5. Hi Timon…
    Thanks for the review – great insights as usual =]
    Are you still watching nzdusd? I noticed you left it out of your review this week.

    Thanks
    Phil

    • Hey Phil,
      You’re welcome, thanks.
      Yes, I am still watching this market.
      Recently this market broke above the 0.7234 zone area which was a potential bearish evidence area. Now that the market has broken above this area ( broke above and closes above this area ) my bias is looking for pullbacks into this area as a potential bullish evidence area on this market.

      Above – NZDUSD Daily – click chart for larger view

      NZDUSD 4 hour

      Above – NZDUSD 4 Hour showing potential pullback area in more detail – click chart for larger view

      • Phil Rowell says:

        Thanks for the quick reply Timon – and thanks for reviewing this market again =]

        It’s great to have someone with your experience confirming my thoughts. Gives me confidence in my decision process.

        Cheers
        P

  6. Hi Timon
    Thaks for weekly reviews
    Could you analyze USDCHF please?

  7. Man you’re the best human trader, thanks for everything.
    I got favour to ask, is there any strategy for binary option?

    Aziz

    • You’re welcome Aziz, thanks.
      Problem with binary option services is that they do not offer a good risk to reward profile with calls or puts. Often only providing 70% return which is less than a 1 to 1 ( less reward than the risk ).
      Evaluating risk to reward and making sure reward potential is more than the risk is an important part of Price Action Trading.
      Regards,

  8. James Clark says:

    Great review Timon as always, have a great trading week ๐Ÿ™‚

  9. brischu says:

    Thanks a lot for the weekly review. I m really impressed. Short and clear!!!

  10. Simon Tao says:

    With you on gold, fingers crossed…. thanks for the reviews !!

  11. Best wishes and thank you.

  12. Thanks Timon

  13. Thanks again Timon for another great review and have a great trading week.

  14. Thanks Timon. When you review a currency pair on the 4 hour chart is that what you trade, the 4 hour?
    And when you review the daily do you trade the daily?
    Great reviews thanks

    • Thanks Brian,
      Yeah good question, no not necessarily, when I highlight a daily zone on the daily I keep an eye on the 1 hour, 4 hour and daily on that market when it is testing that area. If I highlight a zone on the 4 hour, then I keep an eye on the 1 hour and 4 hour when it is testing that area.
      Important to note that when I highlight an important area on the daily or 4 hour chart that I am highlighting a potential trading bias area in the market and that this area can be traded on multiple time frames.
      Regards,

  15. Hi Timon

    I was in a long position on gold with a stop loss at 1240.64.
    I have been stopped out with a spike lower by gold.
    What would have caused this and is there anything different I should have done on this position.
    I notice that silver also has spiked lower.

    thanks

  16. Kevin Oh says:

    Hi Timon,
    Thank you for the awesome review. Greatly appreciate your efforts.
    Have a great and profitable week ahead.
    Cheers!

  17. Chris Nash says:

    Another great review thanks Timon! I too had a long position already open on gold…..got tapped out overnight…..my stop was set below the 1239 area on the 4hr…thought i was safe with that! what about you? did you ride it out or did you get tapped out!?

    • Hey Chris,
      You’re welcome mate. Yeah my trade got stopped out as well when price broke out of that area, the trade had a potential of over a 3 to 1 Reward to Risk profile ( more than 3 times the reward than the risk ) so was a good setup, however did not work out in this case.
      Gold has been a good performer for a while ( the 1294 bearish move recently ), unfortunately this one did not work out.
      Regards,๏ปฟ

      Gold

      Above – Gold 4 Hour – click chart for larger view

      Article and Video ( below link ) for people wondering about the recent drop in Gold.
      Gold Plunges After 1.8 Million Ounces Were Traded in One Minute โ€“ https://www.bloomberg.com/news/articles/2017-06-26/gold-plunges-as-1-8-million-ounces-traded-in-a-new-york-minute

      ( The price action on this market is still holding zone area, lower end of this area. )

  18. izuchukwu ubah says:

    many are out there with the same idea you got but you chooses to share yours with us thanks and may God keep you for us. good reviews what will be upcome aud/usd tomorrow

  19. Graeme Normington says:

    Thanks Timon

  20. Thank you.

  21. David OMeara says:

    I just read online that an erroneuous order was placed for 1.8 million ounces in one minute. Commentary is that an incorrect order was placed by a trader pressing the wrong button. Commentary on Bloombergs.

  22. Simon Morsley says:

    …and another article from Kitco

    http://www.kitco.com/commentaries/2017-06-26/Was-There-A-Rhyme-Or-Reason.html

    I like the sum up here as he says…”It will be interesting to see how gold prices react over the first few days of this week as traders and analysts attempt to incorporate this new pricing into their current models.”

  23. I was not in gold at the time of the spike but did enter after the “retracement.” According to Timon’s trading methodology, it was still a good trade.

    Bought in at 1245.62

    • Gold is on sale at the moment… the U.S. had positive GDP news that gave the USD a momentary bullish spike sending gold back into the daily support zone. Do your analysis… could be an opportunity there…

  24. Hi Timon,
    I have been your blog follower for sometime, I have also used couple of your products Engulfing Trader & Candle Stick Series, both were really good by the way.
    I always wanted to ask you this question, have you ever thought of doing Accounts Management Services?

    Best Regards

    Kam

  25. Simon Morsley says:

    Nice one Jay!~
    Hey Timon, end of financial year fast approaching would you have a mid to end week review (pretty pleeeze)
    Also I may suggest there may be some account balancing done in the form of sell offs perhaps, trading could be risky Friday 30th…just my two cents worth

    Cheers

  26. Michael Saruk says:

    Great website and courses

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