Weekly Forex Review – 2nd to the 6th of May

Welcome back traders to another edition of the Weekly Forex Outlook and Review, this edition this week for the 2nd to the 6th of May 2016 Forex Market. 12 pairs and markets covered this week in the review analyzing potential zones, management points and potential targets. Also in the review, I take a look at last week’s market price action moves on a number of different markets.

Pairs and Markets Analysed this Week: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF, GBPAUD, EURCAD, Gold ( 4 Hour ), Silver ( 4 Hour ), NZDCAD and EURGBP.

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: GBPUSD moved higher to test the 1.46 zone, an area highlighted as a long term potential target to the upside from the 1.4150 zone in this recent review. USDJPY moved strongly lower from last week’s review highlighted 111.30 zone, an area highlighted last week to look for bearish evidence and moves to the downside on this market from this important area. USDCHF also performed well moving strongly lower from last week’s review highlighted zone ( the 0.98 zone ), an area highlighted on this market to look for bearish evidence and potential moves lower from this important area. NZDUSD also performed well moving higher as expected from the 0.6850 zone, an area highlighted last week in the review to look for bullish evidence and moves to the upside from this important area.

As for this week ahead in the market, I am expecting another great week ahead with plenty of potential opportunities. Main opportunity zones highlighted this week in the review are Trend Continuation type zones.

 
Above Video – Weekly Forex Outlook and Review for the 2nd to the 6th of May 2016.

Are You Looking for an Effective Trading Strategy?

If so, then I highly recommend checking out our Forex Training Page. On that page are four current Training Series available. The Engulfing Trader Series for important high probability trading training, The 5 Day Trend Training Series for trend trading training and the more recent training release called The Candlestick Training Series for multiple candlestick trading and evaluating potential reward.

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

GBPUSD trading zones

Above – GBPUSD testing the 1.46 zone, a great area on this market to look for bearish evidence and potential moves to the downside on this market.

The 1.46 zone was also a potential long term target highlighted in a recent previous reviews ( such as this one ) for those holding buy trades from the 1.4150 zone on this market. This market performing really well last week reaching and testing that long term target.

USDJPY trading zones

Above – Highlighting this week on USDJPY a potential pullback zone on this market to look for bearish evidence ( and potential moves to the downside ) if the market pulls back to this area next week. That zone is the 108 zone on this market.

Last week this market performed really well moving strongly lower from last week’s highlighted zone in the review which was the 111.30, an area highlighted last week on this market to look for bearish evidence and a potential continuation to the downside on this market in the trend.

USDCHF trading zones

Above – Highlighting on USDCHF this week a potential management point and target to the downside for those holding sell trades on this market as well as an area next to look for bullish evidence and moves to the upside on this market. That zone is the 0.9530 zone, a potential counter trend zone on this market.

USDCHF was a strong performer last week in price action moving strongly lower from last week’s review highlighted zone ( the 0.98 zone ). An area highlighted last week to look for bearish evidence on this market.

NZDCAD trading zones

Above – Highlighting on NZDCAD this week a potential pullback zone on this market, that zone is the 0.8780 zone, a great area on this market to look for bearish evidence and potential moves to the downside on this market.

EURGBP trading zones

Above – Highlighting two potential zones on EURGBP this week:

  1.  The 0.79 zone as a great area to look for bearish evidence and moves to the downside from this area.
  2. The 0.77 zone as great area to look for bullish evidence and moves to the upside from this area.

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. Thank you so much, nice one Timon. Your review is on point.

  2. Gerard says:

    Great video, thanks Timon.

  3. Pete W says:

    Nice review Timon, as always, thanks very much.

  4. Great review…hopefully we all have a great trading week…thanks again..

  5. Vincent says:

    Thanks again Timon, always the best coach, responsible on your review. Appreciate.

  6. Hello Timon; Thanks for videos. Great weekend.

  7. Love your work, Solid.

  8. Tony B says:

    Hey Timon
    Another great weekly review, have a great trading week!

  9. Eddy Hackleman says:

    Thank you sir… Your insight is appreciated..

  10. Preston says:

    Thank You!

  11. Ken McInnes says:

    Thank you Timon!!! Your support is invaluable as I learn to be a Master Trader… 🙂

  12. Thank you Timon for an excellent weekly review. I appreciated the headsup for the USDCHF, EURJPY and USDJPY pairs last week which have given really profitable trades. GBPUSD is still rising after the highlight from two weeks ago. Cheers mate JOhnR

  13. Hey Timon,
    Hope you have a great week. Thanks for your help with these trade areas once again…

    Chris

  14. michael walker says:

    I am new to trading your method and will follow and asses your method, which so far looks promising.

  15. Thanks Timon, love your weekly outlooks.

  16. Thanks T – looking forward to another week trading with engulfing and trend trading setups!!

  17. Thank you Timon

  18. Thank you for excellent weekly review, always on point!

  19. Allen Sen says:

    Thanks Tim,

    Kind Regards,
    Allen

  20. Hi Timon, what do you think of EURGBP on Friday. Good signal to sell it since there’s bearish engulfing pattern on daily chart?

Speak Your Mind

*