Weekly Forex Review – 21st to the 25th of August

Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition for the 21st to the 25th of August Forex Market. Aspects highlighted in the review include evaluating how price action moved last week on multiple pairs and markets, as well as highlighting potential opportunity areas ( high probability trading areas ), management point areas and targets.

Pairs and Markets Analysed this Week: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, Gold, USDCHF, EURGBP and GBPCAD.

Great performing week last week in the Forex Market with lot’s of markets performing well from the important zones. To name a few of the markets that performed well: AUDUSD tested and gave a strong move higher from last week’s highlighted zone ( from the 0.7823 zone area ), NZDUSD tested and gave a strong move higher from last week’s highlighted zone ( from the 0.7230 zone area ), USDCAD tested the long term target area and bearish evidence area ( the 1.2764 zone area ) and declined strongly from this area, USDCHF tested the 0.97 zone area and declined strongly from this area, an area highlighted in previous recent reviews on this market as a potential bearish evidence pullback area and GBPCAD continued its downward decline from the 1.66 bearish evidence area, the area highlighted in the previous review on this market as a potential bearish evidence continuation area.

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

 
Above Video – Weekly Forex Outlook and Review for the 21st to the 25th of August Forex Market

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gbpusd daily trading areas

Above – Highlighting on GBPUSD this week two zones:

  1. The 1.2960 as a great area on this market to look for bearish evidence and a potential move to the downside from this area.
  2. The 1.2816 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

gbpusd 4 hour trading areas

Above – GBPUSD on the 4 hour chart

nzdusd four hour trading area

Above – Highlighting on NZDUSD a potential 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 on this market.

Last week NZDUSD was a great performer testing the 0.7230 zone area and giving a strong move higher from this area, the 0.7230 zone area was an area highlighted last week in the review as a potential bullish evidence area on this market. Previous update on this market ( midweek update ) – click here.

usdcad four hour trading area

Above – Highlighting on USDCAD the 1.2489 zone area as a great target area on this market for those holding a sell position on this market as well as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

Last week USDCAD was a great performer testing the 1.2764 zone area and giving a strong move lower from this area, the 1.2764 zone area was an area highlighted in multiple previous reviews ( such as this recent review ) on this market as a potential target area to the upside 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. Previous update on this market ( midweek update ) – click here.

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. Hi Timon, Thanks for the analysis. Very helpful. Regards Rajeev

  2. Thanks Timon for your reviews.

    I notice most of the reviews are on the four hour time frame now.
    Do you have a simple explanation for using the four hourly instead of the daily?

    • You’re welcome David.
      Yeah, good question, while I highlight the important daily zones on the daily chart commonly in the reviews, these areas can also be traded on multiple time frames such as 4 hour.
      Because of this reason I highlight these trading areas on other time frames than daily ( such as 4 hour or 1 hour time frame ) in some of the reviews.
      Regards,

  3. Thank you Timon for this week’s excellent review. Grateful to you for highlighting EURAUD last week. Since the beginning of May this pair has given me many excellent short term trades while I have been looking for a longer term trade to the upside. I was stopped out of USDCAD last week but re-entered again as I have faith this pair will still trend downwards as you suggested a couple of weeks ago. Cheers mate. JOhn R

    • You’re welcome John, thanks.
      Great to hear about your recent trades on EURAUD, that market is a common market I trade as well and is often a good performer with price action trading.
      Have a great trading week!

  4. Hi Timon. Thanks for the review. It is appreciated. Have a great trading week.

  5. Claudemir says:

    Thanks Tim for your weekly analysis. Whenever you have a chance , can you give a review on GBP/JPY?

    • You’re welcome Claudemir.
      Yeah sure, below is my review of this market.

      Last week GBPJPY gave a nice move lower from the 142.70 zone area which is a potential bearish evidence area on this market at the moment. This is a great area if the market pulls back to this area again this week to look for bearish evidence and a potential move to the downside from this area.
      As for to the downside, that previous low area and the 137 zone area are potential bullish evidence areas on this market.

      Above – GBPJPY Daily – click chart for larger chart view of this market

  6. TOny Biasillo says:

    Hey TImon
    Very good review on the 4 hr charts – it’s another good way to find trades. Due to my work schedule i only have time for daily charts
    Have a good week!

  7. Hi Timon,

    Thanks for your review.
    Can you post your oveview for the USD/JPY?

    Cheers

    • You’re welcome Tai.

      Yeah sure, below is my review of this market.

      First of all, this is the recent comment update on this market from last week – http://www.forexreviews.info/weekly-forex-review-14th-to-the-18th-of-august/#comment-76428

      Last week this market performed well pulling back and testing the 110.30 zone area, a potential bearish evidence area on this market and moving lower from this area. If the market pulls back and retests this area again this is a great area to look for bearish evidence and a potential move to the downside from this area.

      To the downside that previous low is currently acting as support however this market may pullback further to test the 108.33 zone area which is a potential bullish evidence. Between that previous low area and the 108.33 is currently an area of support on this market at the moment.

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

  8. Hi Timon
    Thanks you for weekly reviews
    could you analyze USD/JPY?

  9. wasfi Cheaito says:

    thank you, very helpful

  10. Priscilla says:

    Thanx for the review Timon your videos are clear.

  11. Thanks Timon,
    You narrow down the possibilities to a manageable group

  12. Hi Timon. Thanks again for another great review. I had a good trade on gold daily buying in at 1287.44 and closing the trade out at 1293.47 picking up 603 pips on the day. Looking now for a good opportunity to go in short. Thanks once again for al the work that you do for us.

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