Weekly Forex Review – 20th to the 24th of November

Welcome to another edition of the Weekly Forex Outlook and Review, this edition this week for the 20th to the 24th of November Forex Market. Aspects covered in the review include analysing 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, GBPUSD ( 4 Hour ), USDCHF ( 4 Hour ), USDJPY, NZDCHF, EURJPY ( 4 Hour ), Gold ( 4 Hour ), EURCAD, GBPCAD, EURNZD and GBPJPY.

As shown in the video review this week, last week was a great performing week in the Forex Market with lot’s of markets performing well. To name a few of the markets that performed well: USDJPY, EURJPY, EURCAD, GBPCAD and EURNZD.

Opportunity areas highlighted this week include both high probability trend and counter trend areas.

For economic events this week click here.

 
Above Video – Weekly Forex Outlook and Review for the 20th to the 24th of November Forex Market

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gbpusd h4 trading areas 20th of november

Above – Highlighting on GBPUSD a great area on this market to look for bearish evidence and a potential move to the downside from this area. That area is the 1.3278 zone area, an area that has acted as resistance multiple times on this market.

usdjpy d1 trading areas 20th of november

Above – Highlighting on USDJPY that where the market is testing is a great target area for those holding a sell position on this market from the 114.30 zone area as well as a great area on this market to look for bullish evidence and a potential move to the upside from this area.  That area is the 112.11 zone area, an area that has acted as support and resistance multiple times on this market in the past. Also, the 114.30 zone area is a great area in the trend to look for potential continuation in this market.

Last week USDJPY was a great performer reaching the long term target area ( the 112.11 zone area ) mentioned in previous reviews on this market for those holding a sell position from the 114.30 zone area.

eurjpy h4 trading areas 20th of november

Above – Highlighting on EURJPY the 131.76 zone area as a great area on retests of this important zone area to look for bullish evidence and a potential move to the upside from this area. This is an area on this market that has acted as strong support multiple times in the recent past and has given a lot of potential opportunities on previous tests of this area.

Last week EURJPY continued higher from the 131.76 zone area ( potential bullish evidence area mentioned in multiple previous reviews on this market ) moving beyond the management point high area and almost retesting the 134.21 zone area.

To view the last review of this market visit here.

gbpcad d1 trading areas 20th of november

Above – Highlighting on GBPCAD a potential target area to the upside for those holding a buy position on this market as well as a great area on this market to look for bearish evidence and a potential move to the downside from this area.  That area is the 1.6972 zone area, an area that has acted as resistance multiple times on this market in the past looking left.

Last week GBPCAD was a great performer testing the 1.66 zone area, a potential bullish evidence area mentioned in the previous review of this market and giving a strong move higher from this area.

Midweek Forex Reviews

Come back and check below for potential upcoming Midweek Reviews ( video or comment updates ) in the week ahead.
Have a great trading week 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. Thanks Timon, another excellent review of the market. Also, I recently got access to The Candlestick Training Series which is brilliant.

  2. Thanks Timon. Quite a few pairs setting up nicely for a good trade.

  3. Thanks Timon, excellent review.
    Have a great trading week!

  4. Thank you very much
    You are a wonderful person

  5. Thanks Timon

  6. Peter Harris says:

    Hi Tim, on GBPUSD last week you highlighted 1.32522 as an area for bearish evidence and there is a bearish engulfing candle now formed on the 4hr chart. In this weeks review you are highlighting 1.32783 on GBPUSD as the new area to look for bearish evidence. Should we now ignore last weeks 1.32522 resistance zone you highlighted and if so why?
    Rgds
    Peter

    • Hey Peter,
      Yeah, good question. Both are still within that trading area. When I dropped down to 4 hour, the zone area starting point was able to be refined slightly based off those recent multiple highs to a slightly higher point. In other words, in some cases, a zone area starting point can shift slightly based off how price action is testing a zone area recently in the market. Baring in mind, these shifts are only small ( less than 30 pips ) and price is still within that trading area.
      Regards,

  7. Thanks Timon, excellent job!!! I am stuck in the nzdusd and audusd don’t know why I didn’t get out. do you think it will go up? thanks a lot

  8. Hi Timon, GBPUSD at the current price, i look on daily there is another tap resistance. Correct me if i am wrong.

    • Hey Nasz,
      Yes, price recently tested the beginning of that zone area.
      When I dropped down to 4 hour, the zone area starting point was able to be refined to a slightly higher price based off those recent multiple recent highs.
      Baring in mind that both those price points are still within that trading area.
      Regards,

  9. Ali Senejani says:

    Hi Timon. Thank you for the great video.
    We had great performing pairs last week such as GBPCAD and EURJPY. I am looking for another buy trend zone opportunity on EURJPY this week.
    GBPJPY is also finally getting closer to the buy zone.

  10. Excellent market analysis. Best one you can find in the internet! Thanks a lot mate!

  11. Great!!

  12. Thank you Timon!

  13. My trade today 20 November 2017 was a supernatural success, I followed your analysis.
    I wonder why don’t you issue a live signals during the day

  14. Thanks for eye opening analysis. They are very helpful and enjoyable.

  15. Hello Timon, a quick Q when drawing support and resistance lines, do you draw them crossing the tops and bottom of wicks or tops or bottom of bodies. thanks Andrew.

    • Hey Andrew, yeah good question, from the beginning of the average body close in that area and below wick low ( if support ) or above wick high ( if resistance ).
      Regards,

  16. Hi Timon . I see the bad news this week that there’s no forex reviews. But, maybe you have forex updates??

    • Hey Toby, hope you are having a great week!
      Unfortunately I did not have time over the weekend to do as I was visiting a family member that recently had a baby over the weekend. I am however back in the trading room today and looking forward to doing the next review.
      Any questions on any markets before the next review let me know.
      Regards,

  17. Ali Senejani says:

    Hi Timon. Hope you had a good trading week last week.

    Would you please share your thoughts on GBPUSD pair?

    Below is GBPUSD daily chart.

    GBPUSD chart

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