Weekly Forex Review – 22nd to the 26th of August

Welcome back traders to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for the 22nd to the 26th of August Forex Market. Analysing and highlighting many important zones in the market this week including potential opportunity zones, areas to look for evidence and moves in the market, management points and targets.

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

Both high probability trend continuation type zones and counter trend zones analysed this week in the review.

 
Above Video – Weekly Forex Outlook and Review for the 22nd to the 26th of August.

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eurusd daily structure

Above – Highlighting on EURUSD this week two potential zones:

  1. The 1.1413 zone as a area that I am interested in looking for  bearish evidence on this market and a potential move to the downside.
  2. The 1.1130 zone as a area that I am interested in looking for  bullish evidence on this market and a potential move to the upside.

gbpusd h4 structure

Above – Highlighting on GBPUSD this week that if this market retests the 1.2880 zone area that this is an area where I am interested in looking for bullish evidence again on this market and a potential move to the upside from this area.

Last week GBPUSD performed well, moving strongly higher from last week’s review highlighted zone on this market ( the 1.2880 bullish evidence zone ).

euraud daily structure

Above – Highlighting on EURAUD this week the 1.4860 zone as a great area on this market to look for bearish evidence and a potential move to the downside from this area. The 1.4860 is an area that has acted as resistance and support multiple times in the past on this market and is also a potential continuation zone in the trend.

gold daily structure

Above – Highlighting on Gold this week a potential pullback zone to the downside on this market, that zone is the 1314 zone, a great area on this market to the downside to look for bullish evidence on this market and a potential move to the upside from this area. Like I have highlighted in previous recent reviews on Gold in the past, this market is in a uptrend and while it is in that trend, my preference on this market is looking for pullback moves to the downside on this market and areas to the downside to look for bullish opportunities 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.

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 for the review Timon, great analysis.

  2. How about other pairs like usdjpy, audjpy?

    • Hey Tyronne,
      USDJPY is testing the 100 counter trend zone on that market ( potential bullish evidence area on this market ).

      USDJPY daily

      Above – USDJPY Daily – click chart screenshot for larger view

      As for AUDJPY, this market is testing the 76.50 zone. Below is my chart view of this market.

      audjpy daily

      Above – AUDJPY Daily – click chart screenshot for larger view

      Both of these markets are testing zones to the downside.

      Regards,

  3. Hey Tim, thanks for the review buddy. I remember last week there was a bias on both eur/usd and usdchf on the downside but one had to show their true colours to continue their negative correlation . 🙂

    I have a slight question.. USDCAD. daily looks like it broke support but an engulfing bar has made this a false break..

  4. Great analysis

  5. Hi Timon, great review (as always) – one quick Q though, I suspect a potential move to the upside on the AUDCAD (Daily). Am I wrong?

    • Thanks Thuso,
      Yeah, this market is testing the 0.9770 zone, a great area on this market to look for bullish evidence and bullish opportunities on this market. I am expecting a potential move to upside from this area on this market.
      Regards,

  6. Hi Tim
    Am on buy with USDCAD
    Must I hold it

    • Hey Mimi,
      USDCAD recently tested the 1.2840 zone area ( low zone looking left ) deeply before finding support. I am expecting a potential retrace higher on this market from this area.
      Regards,

    • The area to watch for on this market for a potential move higher will be if price can break above and close above the 1.2925 price level.
      A break above and close above this level should indicate a potential move all the way up to the 1.30 zone level on this market.

      Above – USDCAD 4 Hour – click for larger chart screenshot view

  7. Najib ul Rehman Malik says:

    Hi
    Thanks for your weekly analysis. I suggest you should also indicate patterns in your analysis to make it even stronger and more interesting…
    regards

    Najib

  8. Frank Nilson says:

    Hi Timon, thanks for the trading analysis. Could you please let me know what your view is on AUDJPY, USDCHF, CHFJPY and NZDCAD. Thanks.

    • You’re welcome Frank. Yeah sure.

      Below is my view of NZDCAD:

      NZDCAD is testing the 0.9280 zone, a great area on this market to look for bullish evidence and potential moves to the upside on this market. Also this zone is aligning with a strong Fibonacci Retracement level as well.

      Above – NZDCAD 12 Hour – click chart for larger view

      My bias is similar this week on USDCHF as the previous week’s review, however I am interested in also looking for bearish evidence at the 0.97 zone if the market pulls back and tests this zone this week.

      USDCHF daily zones to the upside

      Above – USDCHF Daily – click chart for larger view

      AUDJPY is testing the 76.50 zone on this market – for a screenshot of this market

      CHFJPY is in a strong downtrend for quite a while, it is preferred to focus on pullback zones to the upside on this market as areas to look for bearish evidence and potential moves to the downside while this market is in that trend.

      chfjpy daily downtrend pullback zones on this market this week

      Above – CHFJPY Daily – click chart for larger view

  9. Very useful analysis, thanks for the review Timon. =D

  10. Andrew Williams says:

    Thankyou for another great review happy trading.

  11. Thank You for the weekly analysis

  12. Thank u ….always

  13. Thanks Timon, have a great week.

  14. Thank you from Sunny Florida, US, I enjoy your analysis and training. You are a great guy for sharing your knowledge. Ron

  15. Dwight Futrell says:

    Hi Mr Weller , I wanted to see if you could maybe post a outlook on the eurjpy pair to see if my outlook is the same as yours . Thank you in advance .

    Thanks , Dwight

    • Hey Dwight,
      Hope you are having a great trading week. This markets outlook is similar to the CHFJPY comment I replied to here, the 117.70 zone as a bearish evidence area to the upside on EURJPY. Area to look for bearish evidence if the market tests this area this week and a potential move to the downside from this area. This market is in a strong daily downtrend at the moment so is the preferred zone on this market while it is in that trend.

      EURJPY Daily Zones

      Above – EURJPY Daily – click for larger chart view

      Regards,

  16. Thank you Timon for an excellent weekly review. Markets are a little quiet allowing only a few short term trades. Hopefully after the holiday season ends things will pick up. Cheers mate. John R

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