Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for the 14th to the 18th of March 2016. Many pairs and markets covered in the review this week, including analysing potential opportunity zones to be aware of this week, management points and targets.
Pairs and Markets Analysed this Week in the Review: EURUSD, GBPUSD, AUDUSD, USDCHF, Silver ( 4 Hour ), Gold ( 4 Hour ), AUDNZD, CHFJPY, GBPNZD and AUDCAD.
Some of last week’s price action highlights: EURUSD moved higher from the previously highlighted 1.0830 zone ( bullish evidence area ) all the way to the 1.1118 zone, a potential long term target and management point zone highlighted on this market in previous reviews. Gold pulled back to the 1246 zone and a gave a move higher to test the previous highs on this market ( beneficial move to those that trade lower time frames ), the 1246 zone was a zone highlighted last week in the review to look for bullish evidence and potential moves higher on this market. USDCHF showed continued weakness from the 1.00 dollar zone, a zone highlighted on this market last week in the review and in the last few weeks of reviews to look for bearish evidence and potential moves lower from this area, potentially a move all the way down to the 0.98 zone, an area that was wick tested late last week.
Main opportunity zones 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 March 2016.
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Above – Highlighting two zones on AUDUSD this week:
- The 0.76 zone as a potential counter trend zone to the upside on this market to look for bearish evidence and a potential move to the downside.
- The 0.7360 zone as a potential pullback zone and continuation zone area on this market to look for bullish evidence and a potential move to the upside from this area.
Above – Highlighting two potential pullback zones on this Gold again this week and areas to the downside to look for bullish evidence and a potential continuation higher on this market.
Above – Highlighting the 115.50 zone, an area the market is testing right now, as a potential area on CHFJPY to look for bearish evidence and potential continuation to the downside on this market.
As highlighted in previous reviews on this market, CHFJPY is in a downtrend and so optimally all we want to be looking for is those optimum pullback zones on this market and the 115.50 is a great area on this market to look for potential continuation. A great area to look for bearish evidence next week on this market.
Above – Highlighting a potential pullback zone on GBPNZD this week in the review ( the 2.1530 zone ) and area if the market tests to zone this week to look for bearish evidence and a potential move to the downside on this market.
Midweek Forex Reviews
Come back and check this space for potential upcoming Midweek Reviews in the week ahead. They will be added here.
Have a great trading week everyone and Happy Trading.