Weekly Forex Review – 27th of June to the 1st of July

Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition of the review for the 27th of June to the 1st of July. 7 Markets analysed this week highlighting potential opportunity zones, areas to look for evidence and potential moves in the market, management points and targets.

Pairs and Markets Analysed this Week: AUDUSD ( 4 Hour ), NZDUSD ( 4 Hour ), CADCHF, USDCHF, USDCAD, NZDCAD and Silver.

Last week was the ‘UK Referendum vote’, a major event that I mentioned concerns of in the previous review and the reason I did not do a review for the 20th to the 24th of June last week. This event caused a lot of unusual volatility in the market ( and strong moves ), in particular on GBP based markets such as GBPUSD ( over 1000 pip drop ). Because of these strong moves on these markets, I will not be highlighting any Pound or Euro based markets this week in the review while these markets settle. Once these markets settle I will include these markets once again in the reviews.

As for the referendum and the vote results, the people of the UK voted on the 23rd of June the decision to leave the EU ( European Union ).

This week in the review I highlight both high probability trend continuation type zones and counter trend zones in the market.

 
Above Video – Weekly Forex Outlook and Review for the 27th of June to the 1st of July 2016.

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For more details on all the Training Series available at Forex Reviews click here.

audusd zones 4 hour

Above – Highlighting on AUDUSD this week two potential zones:

  1. The 0.7364 zone as a great area to look for bullish evidence and a potential move to the upside from this area
  2. The 0.7640 zone as a great area to look for bearish evidence and a potential move to the downside from this area

nzdusd zones 4 hour

Above – Highlighting on NZDUSD this week two potential zones: ( Very similar to AUDUSD )

  1. The 0.7019 zone as a great area to look for bullish evidence and a potential move to the upside from this area
  2. The 0.7260 zone as a great area to look for bearish evidence and a potential move to the downside from this area

cadchf zones daily

Above – Highlighting on CADCHF  this week where the market is just starting to retest ( the 0.7444 zone )  as still a great area on this market to look for bullish evidence and a potential move to the upside on this market.

nzdcad zones daily

Above – Highlighting on NZDCAD a potential pullback zone, that zone is the 0.8990 zone, an area highlighted that if the market tests this zone this week as a great area on this market to look for bullish evidence and a potential move to the upside on this market.

silver daily zones

Above – Highlighting on Silver this week a potential counter trend zone on this market, an area to look for bearish evidence and a potential move to the downside. That area is the 17.80 zone.

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 Timon

  2. Hey Timon, hope your well, great review, thank you.

  3. Thanks Timon and welcome back. Apparently, the latest news is most British people have now regretted their decision, and they want another referendum. Voting is not compulsory in England and bad weather kept a lot of people away from turning up at the polling booths. This apparently boosted the leave campaign, according to local sources. So more instability in the markets.

    • You’re welcome Shane, thanks.
      It is a sad day for democracy when you hear people that did not win a vote ask for a revote.
      Not very likely a revote in my opinion, it goes against the whole concept of democracy. As David Cameron said before the vote ‘This is a referendum and not a neverendum.’ His words, not mine.
      Below is a screenshot quote from David Cameron ( British PM ) on the matter of asking if a revote possible recently in the past.

      referendum neverendum

      Image source – https://twitter.com/David_Cameron/status/732562392131997697
      Regards,

  4. James Clark says:

    Hi Timon
    Thanks for this. Always very useful.
    How many pips do you normaly set your buffer?
    Thanks

    • You’re welcome James, thanks.
      I assume you are referring to risk and zoning buffer, this is based on price action tests in the past of that particular zone and not a set amount that one.
      Regards,

  5. Great review. As you highlighted, some pairs are still volatile.

    • Thanks Marco.
      Yeah sure, I recommend allowing for some settling time on markets such as GBP and EURO based markets, price action settling, markets that were effected mostly by the UK referendum vote last week.
      Regards,

  6. Thanks so much! Is it a good idea to buy gbp?

    • You’re welcome Robert. I recommend allowing some time for price action to settle first before looking for opportunities on GBP based markets. If referring to buying Pounds 1 to 1 ( no leverage – 1 to 1 exchange ) then no problem however. Pound is at a great 1 to 1 exchange rate.
      Regards,

  7. Monica Nikopoulos says:

    Thank you for all the wkly potential setups to look for!! Your videos are much appreciated and needed!!
    Keep doing the great job!!

  8. Thanks Timon

  9. Tks super a lot Timon.
    You make always a great analysis.
    All the best for you.

  10. Timon, Thank you so much for your weekly reviews. They’re very clear and very helpful.

    Karen

  11. Hey Timon,

    Thanks for the review 🙂

    A bit hectic with the referendum .. But I agree you cant really ask for a revote as if the decision was to remain in the EU a revite would never of been on the cards even if the leave camp wanted it. I think some people are getting hit by scare tactics so some regret their decision but it goes to show that people in the UK are not happy with how the country is being run with the current govt. Luckily I was long in USDCHF on the night 🙂

    Have a great week .

  12. Thank you Timon for an excellent weekly review. While I am waiting for my brokers to notify their margins have reduced to normal levels, I am going over the core training at Forex Reviews. Thank you for your best wishes to those of us in the UK. Cheers mate JOhnR

  13. Senejani says:

    Thank you for the great review.

  14. Ishtiaque H Shah says:

    Tim, Can you highlight Silver on your next video publication because it is rising and rising?

  15. RAMIRO GARCIA says:

    TIMON, HEY, THIS IS RAMIRO FROM PANAMA. HOPE YOU ARE WELL. I HAVE WATCHED MOST OF YOUR VIDEOS AND THANK YOU FOR THAT GREAT INTEL. I AM ON THE 5TH DAY OF YOUR TREND TRAINING AND LOVING IT. CAN YOU TELL ME ON MT4, HOW YOU CAN DRAW THE SMALL LINES. EVERY TIME I PUT A TREND LINE IT JUST GOES ON AND ON. THANKS FOR YOUR SUPPORT.

    • Hey Ramiro,
      Yeah I am good mate, hope you are well. Thanks for the feedback on The 5 Day Trend Training Series.
      To draw small trend lines untick ray in trendline properties
      This can be unticked by right clicking on trend line, selecting trendline properties and unticking ray in the parameters tab.
      Regards,

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