Weekly Forex Review – 14th to the 18th of August

Welcome to another edition of the Weekly Forex Outlook and Review, this edition for the 14th to the 18th of August. Aspects highlighted in the review include evaluating how price action moved last week on multiple markets, as well as highlighting potential opportunity areas, management point areas and target areas.

Pairs and Markets Analysed this Week: EURUSD ( 4 Hour ), GBPUSD, AUDUSD, NZDUSD, Gold, Silver and EURAUD.

If you want to be notified of any Midweek Review updates this week, make sure to subscribe, also you can subscribe to all comments in the comment section below for any comment updates this week by selecting ‘All’ in comment box below.

For economic events this week click here.

Main opportunity areas highlighted this week in the review are trend continuation type zones.

 
Above Video – Weekly Forex Outlook and Review for the 14th to the 18th of August Forex Market

Are You Looking for an Effective Trading Strategy?

If so, then I highly recommend checking out our Forex Training Page. On that page are four current Training Series available. The Engulfing Trader Series for important high probability trading training, The 5 Day Trend Training Series for trend trading training and the more recent training release called The Candlestick Training Series for multiple candlestick trading and evaluating potential reward.

For more details on all the Training Series available at Forex Reviews click here.

eurusd structure trading areas

Above – Highlighting on EURUSD this week two zones:

  1. The 1.1887 zone area ( the 1.19 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 1.1550 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

audusd structure trading areas

Above – Highlighting on AUDUSD the 0.7823 zone area as a great pullback area in the trend on this market to look for bullish evidence and a potential move to the upside from this area.

gold structure trading areas

Above – Highlighting on Gold the 1294 zone area as a great long target area for those holding a buy position on this market, as well as a great area to look for bearish evidence and a potential move to the downside from this area. The 1294 zone area is an area on this market that has acted as strong resistance multiple times in the recent past ( as seen in screenshot above ).

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. The markets seem a little quiet last week but some of my longer term trades with Euro pairs and JPY pairs are continuing to be profitable. I appreciate you highlighting USDCAD again which has developed a nice engulfing candle to open a trade when market opens tonight [BST]. Cheers mate. JOhnR

    • You’re welcome John, thanks.
      Have a great trading week!

    • Hans Driezen says:

      USDCAD made a nice engulfing bearish candle on the daily chart and a bearish pinbar on the weekly chart. It made a nice retracement, but is still in a downtrend. Might go short on this pair with first target 1.2425.

  2. Thanks Timon.

    I had some good trades last week with some nice profits on buying gold and selling the JPY currencies.

  3. Thanks Timon .
    Amazing review you rock, I’m concerned about the USD/CAD can you update me.
    Thanks.

    • You’re welcome Toby, thanks.
      Yeah, sure, good question, near the end of last week that market showed signs of potentially turning just before testing the 1.2764 zone area as seen on the 4 hour ( within 15 pips of this price ) chart.
      This does not mean that this market will not pullback again and test fully in this area this week, however, if you are long on USDCAD you can consider exiting early this week ( or managing position by closing a partial profit ) that position because of that recent price action on that market.
      Regards,

  4. Forex Update: Below is my current USDJPY chart with trading areas marked on that market. At the moment I am mainly bearish on this market due to it being in a daily downtrend. A great area in the trend on this market at the moment to look for bearish opportunities is the 110.30 pullback zone area.
    As for to the downside, the 108.33 area is also a great area on this market to look for bullish evidence and a potential bullish opportunity on this market ( potential counter trend area ).

    Above – USDJPY Daily – click screenshot for larger view of this market

  5. Chad Stretton says:

    Hi Timon,
    Just to say a big fat thank you, all you do is bringing my trading on leaps and bounds. Thank you.

  6. Ahmed Hamdan says:

    Good day,
    I have been following the lovely tubes since more than a year now..
    I trust that adding one more Crude Oil and the DAX German 30 to the forex pairs will add a huge value to the tubes …
    I and my friends in the GCC countries UAE , Kuwait & Saudi Arabia are following your lovely tubes
    We will be more than happy getting your comments for the DAX German 30 & Crude Oil as well.
    I wish you all the best and thank you for the beautiful helpful tubes..
    Best regards,
    Ahmed

    • Samir Nahle says:

      Hi Ahmed, are you Lebanese?

    • Hey Ahmed,
      Thanks for following the updates on the website and for being a long term subscriber.
      Also, thanks for the feedback. I will include those markets in a review in the near future, most likely a Midweek Review.

      In the meantime, here is my Oil chart below:

      My main bias on Oil is bullish as this market is in a daily uptrend ( based off structure trend ) however at the moment this market is testing the 48.92 zone area which is a potential bearish evidence area on this market.

      Above – Oil 4 hour chart – click chart screenshot above for larger view of this market

      Have a great trading week!

    • Below is my current chart view of Germany 30 Index ( daily chart ) showing current potential zones on this market. Recently this market tested the 11942.50 zone area which is a potential bullish evidence area on this market.

      Above – Germany 30 Index Daily Chart – click chart screenshot above for larger view of this market

  7. One thing I liked about your video reviews,is that you are always straight to the point and explanation precise short and not boring.
    Thanks and God bless you.

  8. TOny Biasillo says:

    Hey Timon
    Good weekly review, keep it up and thanks!

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

  10. Ahmed Hamdan says:

    Hi Samir,
    I am from Jerusalem, graduated from the University of Cambridge – UK ..A new trader &
    Love Lebanon and I like every body..
    regards,
    Ahmed

  11. Thanks again Timon for a great review, have a great week.
    Andrew

  12. Forex Update: GBPUSD unfortunately broke below and closed below the 1.2960 zone area this week which was previously a potential bullish evidence area.
    Now that the market has closed below this area, the trading areas I am interested in next on this market are:

    – The 1.2960 zone area as a potential bearish evidence area
    – The 1.2816 zone area as a potential bullish evidence area

    Above – GBPUSD Daily – click chart screenshot for larger view of this market

  13. Forex Update: Both AUDUSD and NZDUSD are testing potential bullish evidence areas.

  14. Forex Update: USDCAD is now testing the 1.2764 zone area which was highlighted as a long term target area to the upside in previous recent reviews on this market for those holding a buy position on this market. The 1.2764 zone area is also a great area on this market to look for bearish evidence and a potential move to the downside from this area.

    Above – USDCAD 4 Hour – click chart for larger view of this market

  15. Forex Update: Gold has been a great performer this week so far declining from the bearish evidence high area on this market down to the management point area. While this market may move higher from the management point area the market has further potential to continue lower from the management point area back down to the 1252 low area ( which is also a potential bullish evidence area on this market ).

    Above – Gold Daily – click chart screenshot for larger view of this market

    Above – Gold 4 Hour – click chart screenshot for larger view of this market

    • Priceless says:

      THANKS TIMON FOR THE HEADS UP ON GOLD. HOWEVER, NOW THAT PRICE HAS APPROACH 1291 AREA FOR THE 3RD TIME, DO YOU THINK IT WILL BREAK THAT LEVEL AND IT BECOMES SUPPORT?

Speak Your Mind

*