Weekly Forex Review – 31st of July to the 4th of August

Welcome to another edition of the Weekly Forex Outlook and Review, this edition this week for the 31st of July to the 4th of August Forex Market. Aspects highlighted in the review include evaluating how price action moved last week on multiple markets, as well as highlighting high probability trading areas in the market to be aware this week, management point areas and target areas.

Pairs and Markets Analysed this Week: EURUSD, GBPUSD ( 4 Hour ), AUDUSD, NZDUSD, USDCAD ( 4 Hour ), USDCHF, GBPJPY ( 4 Hour ), AUDJPY, GBPCAD, Silver, Gold and EURJPY.

( 12 markets covered this week in the review )

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

 
Above Video – Weekly Forex Outlook and Review for the 31st of July to the 4th of August Forex Market

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

eurusd technical trading areas

Above – Highlighting on EURUSD the 1.1550 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

eurusd technical trading areas zoomed out

Above – EURUSD Daily zoomed in – click chart screenshot above for larger view of this market

nzdusd technical trading areas

Above – Highlighting on NZDUSD the 0.7375 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

usdchf technical trading areas

Above – Highlighting on USDCHF the 0.97 zone area as a great area on this market to look for bearish evidence and a potential move to the downside on this market. At the moment USDCHF is in a downtrend and the 0.97 zone area is a great area in that trend to look for potential continuation.

gbpjpy technical trading areas

Above – Highlighting on GBPJPY this week two zones:

  1. The 142.70 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.
  2. The 147.50 zone area as a great area on this market to look for bearish evidence and a potential move to the downside from this area.

audjpy technical trading areas

Above – Highlighting on AUDJPY the 0.87 zone area as a great area on this market to look for bullish evidence and a potential move to the upside.

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. Thank you Timon for an excellent weekly review. Grateful to you reviewing the Aussie pairs as I was wondering if the trend was weakening in these markets as I was stopped out last month on some of my trades. Cheers mate JOhnR

    • You’re welcome John, thanks. Yeah good question. It is probable that a lot of the strong trends will run out of steam soon, however I would still suggest continuing to trade the trend in preference until the major technical analysis ( higher time frame ) indicates a potential change ( such as a break of a major structure low in a uptrend ).
      Regards,

  2. Thanks for this forex review… Very help me as newbie in forex trading.

  3. Thank you Timon for the great review. It is very helpful.
    Regards

  4. John Connolly says:

    Good review Timon,
    Thanks for making everything easily understandable.

  5. Cheers Timon and have a good week.

  6. Very much appreciated Timon…many thanks for taking the time out from your day to give us these insights.

  7. Thanks Timon! wow wow great job

  8. Tony Biasillo says:

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

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

  10. Hi Tim.. I assume your analysis support and resistance lines are the same not only for the 4 h time but also the daily time charts……….”

    Pairs and Markets Analysed this Week: EURUSD, GBPUSD ( 4 Hour ), AUDUSD, NZDUSD, USDCAD ( 4 Hour ), USDCHF, GBPJPY ( 4 Hour ), AUDJPY, GBPCAD, Silver, Gold and EURJPY. THANKS.

    • Hey Joe, Yeah good question. That is correct, while I highlight zones on the daily chart, these areas can also be traded on lower time frames such as 4 hour. In other words, when I highlight a area on the 4 hour in the review it is also a daily important area.
      Regards,

  11. Per Madsen says:

    Thx for another great review :-), One question on the USDCAD I see evidence on the daily chart at structure, and thinking of taking a short trade on the daily, but in your review you look at the 4 hour USDCAD timeframe and looking for bullish evidence, so I got a bit uncertain of what to do!??!? any hints would really be appreciated.

    • You’re welcome Per Madsen, thanks.
      Yeah, that’s a good question. When a market is testing an important support zone area ( within that area ) such as USDCAD with the 1.25 zone area, a trader only wants to be looking for bullish evidence in that area and potential bullish opportunities. Only if the market breaks out of that area and closes below that area should a traders bias change.

      Above – USDCAD Daily shown on the line chart – click chart screenshot for larger view of this market

  12. Thanks for the insights Timon.
    Happy trading to all of us

  13. Thanks again Timon for a great review keep up the great work. Andrew

  14. Thanks Timon for weekly reviews, another great video again.

  15. Khanyiso says:

    Hi Timon
    I am using the Engulfing Strategy and I recently bought the 5 Day Training Series, how important are fundamentals when trading this strategy? How would you advise people to trade when the are important news coming out?

    Regards
    Khanyiso

  16. Forex Update: NZDUSD getting close to testing the 0.7375 zone area which is a potential bullish evidence continuation area on this market.

    Above – NZDUSD Daily Chart – click chart screenshot above for larger view of this market

  17. Forex Update: USDCAD has performed well this week so far moving higher from the 1.2489 zone area, this was a potential bullish evidence area that I highlighted this week in the review, moving up to test the management point high area with potential for price to move all the way up to the 1.2764 zone area.

    Above – USDCAD 4 Hour – Click chart screenshot for larger view of this market

  18. Forex Update: EURUSD moves higher again this week in the trend now getting close to testing the 1.19 bearish evidence area on this market. The 1.19 level was a significant support area in the past on this market so is a potential area on this market to look for bearish evidence and a potential move to the downside from this area.

    Above – EURUSD Daily Chart – click chart screenshot for larger view of this market

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