Welcome back to to another edition of the Weekly Forex Outlook and Review. This edition this week for the 4th to the 8th of April 2016. 13 Pairs and Markets covered this week in the review highlighting potential opportunity zones, management points and targets.
Pairs and Markets Analysed this Week: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDJPY, EURAUD, GBPAUD ( 4 Hour ), AUDNZD, EURCAD ( 4 Hour ), NZDCAD, USDCAD ( weekly ) and Gold.
Some recent price action highlights: EURUSD was a great performer last week again in Price Action with it wick testing the 1.1440 zone, an area highlighted as a long term target and management point in previous reviews for those holding buy trades from the previously highlighted 1.1118 bullish zone. GBPUSD gave a another move higher last week from the 1.4150 zone, a zone highlighted in previous reviews to look for bullish evidence and moves to the upside. AUDNZD continued lower last week in price action from the 1.13 zone, an area highlighted in previous reviews to look for bearish evidence and potential moves to the downside.
Both types of opportunity zones highlighted this week in the review: counter trend zones and high probability trend continuation type zones.
Above Video – Weekly Forex Outlook and Review for the 4th to the 8th of April 2016.
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Above – Highlighting this week on EURUSD the 1.1440 zone as a great management point and target for those holding buy trades on this market and also a great area next to look for bearish evidence and potential moves to the downside on this market.
In replay: The 1.1440 zone was an area highlighted in previous reviews such as this review and this review as a long term potential target on this market to the upside from the previously highlighted 1.1118 bullish zone.
Above – Highlighting on GBPUSD this week in the review the 1.4150 zone as a great area again on this market to look for bullish evidence and a potential move to the upside on this market. This market has now given multiple moves to the upside from this important zone.
In replay: The 1.4150 zone was an area highlighted in recent previous reviews on this market to look for bullish evidence and potential moves to the upside on this market.
Above – Highlighting on AUDNZD this week a potential management point and target to the downside for those holding sell trades on this market and that zone is the 1.0950 zone. This zone also being a great area next to the downside to look for bullish evidence and potential moves to the upside on this market.
In replay: AUDNZD moved lower once again last week as expected, the previous major zone highlighted ( in recent previous review ) on this market being the 1.13 zone, an area highlighted on this market to look for bearish evidence and potential moves to the downside.
Above – Highlighting on Gold this week a potential pullback zone on this market, that zone is the 1211 zone, a great area on this market to look for bullish evidence and potential moves to the upside on this market.
The 1211 zone is also a significant zone to the buyers on this market because if this level breaks and does not hold then it would indicate most likely more potential weakness on this market. Because of that reason, the bulls will try to maintain this area in order to keep the uptrend bias ( based on daily trend evidence ) intact 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.