Weekly Forex Review – 24th to the 28th of April

Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for the 24th to the 28th of April Forex Market. Aspects highlighted this week in the review include highlighting potential opportunity areas in the market ( high probability trend continuation zones and counter trend zones ), management points and targets.

Also, I take a look at how price action moved last week on a number of different markets.

Pairs and Markets Analysed this Week: EURUSD, GBPUSD ( 4 Hour ), AUDUSD, USDCHF ( 4 Hour ), USDCAD, CADCHF, GBPAUD, USDJPY, Gold, Silver and EURJPY.

Expecting a great week in the market this week with plenty of potential opportunities.

 
Above Video – Weekly Forex Outlook and Review for the 24th to the 28th of April Forex Market

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usdchf chart important trading structure areas

Above – Highlighting on USDCHF this week a potential long term target area to the downside ( 0.9923 zone area ) for those holding sell trades on this market as well as a great area to look for bullish evidence and a potential move to the upside from this area.

*The previous zone highlighted on USDCHF was the 1.0070 zone area, a potential bearish evidence area on this market.

eurjpy chart important trading structure areas

Above – Highlighting on EURJPY this week a potential pullback area on this market, that area is the 118.30 zone area, a great area to look for bearish evidence and a potential move to the downside from this area. This market is in a downtrend at the moment and the 118.30 pullback zone area is a great area in that trend to look for potential continuation on this market.

xauusd chart important trading structure areas

Above – Highlighting on Gold this week the 1250 zone area as a great area to look for bullish evidence if the market tests this area this week and a potential move to the upside from this area. At the moment Gold is in a uptrend and the 1250 zone area is a great area on this market to look for potential continuation in that trend.

Midweek Forex Reviews

Come back and check below for potential upcoming Midweek Reviews 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. Thanks again for the update Timon.

  2. Geoff Mason says:

    Hi Timon, Thanks again for getting your review out early so we can look over the trades. I didn’t get last week’s review but notice above that you did one. I wonder if anyone else had the same thing happen. Anyway, keep up the good work. Regards, Geoff. Coffs Harbour.

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

  4. Hi TImon
    another great weekly review – have a great week!

  5. Thanks Timon

  6. thanks Timon another great review like always

    • Just a quick question about the eurnzd, is it the same like you said last time?

      • Yes, my bias is still the same as the last review on this market.
        EURNZD was a great performer for those holding buy trades on this market from the 1.5125 zone area ( potential bullish evidence area ) hitting that long term target area ( the 1.5430 zone area ) on market open.
        The large gap on open today moved price on this market to the long term potential target area earlier than expected.

        Above – EURNZD Daily – click chart screenshot above for larger view.

        • Hi Timon

          In this instance where a market breaks through a resistance zone would you take a buy trade on the bullish candle or wait for a bearish retracement from the next higher zone of resistance?

    • You’re welcome Robert, thanks.

  7. thanks for another great review timon

  8. Thank you for the update from sunny Sweden.

  9. Thanks very much for the update Timon.
    have a nice week

  10. Hi Timon

    Markets gapped this morning.
    Do you have an explanation as to why this happened?

    David

  11. Would the gap in markets be due to the French elections?

  12. khanyiso says:

    Hi Timon

    Thank you for this week’s review .

    How long would you advise that a trader keeps a pending order if it has not been triggered into a trade .

    Regards

    • You’re welcome Khanyiso,
      Yeah good question, what I suggest is one daily close ( 24 hours from entry ) if trading on daily or 3 candle closes if trading on time frames below the daily.
      Regards,

  13. Some massive moves in some markets this morning Timon.

    • Hey Jesse,
      Yeah, the unusual large gap on euro based markets on open was due to the French elections.
      Regards,

      • I was adversely affected (hugely) by the weekend gap. What now? What positions would YOU enter this week, or is this a time to wait and see in which direction the market moves? Thanks!

        • Hey Leana,
          Thanks for the comment. What Euro market were you trading?
          Those markets are still fine to trade at important areas now that price action has settled.
          As an example: EURUSD is testing the 1.0870 bearish evidence area on this market at the moment.
          Regards,

  14. Thanks again for a great review.

  15. Hi Timon,
    Is your weekly review still valid after this large gap, for the Euro and JPY?
    Thanks

    • Hey Tarik, in relation to the EURJPY zone I highlighted in the review, the 118.30 zone was unfortunately broken on open due to the large gap.
      This market is however testing a deeper potential bearish evidence area at the moment: the 119.60 zone area.

      Above – EURJPY 4 Hour – Click chart screenshot for larger view

      • Thanks very Timon for your reply, but I meant eur/usd and usd/jpy is your weekly review still valid after this big gap or not?

  16. Simon Tao says:

    hi,
    Traded for a few years in the distant past. starting again !!
    Love your approach to trading , and i have had 3 successful trades following your strategies , i lost one but that was due to not understanding leveraged position and stops as i am playing with a micro account at the moment ,nothing to do with what i have learnt from you 😉
    My question is with the markets opening today a lot gaped up and down, some bang onto the long term targets etc …. does one wait for evidence at these levels in order to trade, how do you trade these situations.. any advice.

    Many thanks

  17. Thank Timon for a brilliant weekly review. I appreciate the potential trades you have highlighted to start trading after the celebrating Easter. Cheers mate. JohnR

  18. Thanks Timon
    Great review as usual

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