Weekly Forex Review – 4th to the 8th of December

Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for the 4th to the 8th of December Forex Market. Aspects highlighted in the video review this week include analysing how price action moved last week on multiple markets, as well as highlighting potential opportunity areas, management point areas and target areas to be aware of this week.

Trading opportunity areas highlighted this week include both high probability trend and counter trend areas.

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

As shown in the video review this week, some of the markets that performed well last week from important zones include Gold, EURNZD, GBPJPY and EURJPY.

 
Above Video – Weekly Forex Outlook and Review for the 4th to the 8th of December Forex Market

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usdchf

Above – Highlighting on USDCHF this week a potential target area to the downside from those holding a sell position on this market as well as a great area on this market to look for bullish evidence and a potential move to the upside from this area. That area is the 0.97 zone area, an area on this market that has acted as strong resistance and strong support multiple times in the past on this market.

gold

Above – Highlighting on Gold this week the 1267 zone area as a potential long term target area for those holding a sell position on this market as well as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

Last week gold was a great performer testing and giving a strong move to the downside from the 1298 bearish evidence area ( bearish evidence area mentioned in the previous review of this market ), moving all the way down to that management point low area.

gbpjpy

Above – Highlighting on GBPJPY this week that where the market is currently testing ( the 151.77 zone area ) is a great area on this market to look for bearish evidence and a potential move to the downside from this area.

Last week GBPJPY was a great performer testing and giving a strong move to the upside from the 147.54 zone area ( bullish evidence area mentioned in the previous review of this market ), moving all the way up to the 151.77 zone area.

Midweek Forex Reviews

Come back and check below for potential upcoming Midweek Reviews ( video or comment updates ) in the week ahead.
Have a great trading week 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 your review Timon.

  2. Frank Nilson says:

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

  3. Thanks Timon for another great review.
    What do you think about nzdchf?
    Thanks

    • You’re welcome Robert, thanks.
      NZDCHF is currently testing the 0.6736 bullish evidence area. My bias on this market is that this is still a great area on this market to look for a potential bullish opportunity. My bias on this market would only change if price broke below that current low area on this market.
      Regards,

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

      Above – NZDCHF 4 Hour – click chart screenshot for larger view of this market

  4. Hi Timon,
    Thanks for the great work! It has help me a lot!
    Could you review EUR/CAD and NZD/CHF?
    Thanks

    • You’re welcome Tai, thanks for the feedback on the review.
      Yeah sure. Below is my analysis of those two.

      EURCAD – After that recent strong decline at the end of last week I am expecting this market to continue lower to potentially pullback to test the 1.50 zone area this week which is a potential bullish evidence area. A area on this market in the trend where traders could look for a potential bullish opportunity on this market. The 1.50 level is also a significant round number ( 10 digit round number ) on this market. ( Screenshot below )

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

      NZDCHF – I analyse that market in this recent comment here – http://www.forexreviews.info/weekly-forex-review-4th-to-the-8th-of-december/#comment-85688

  5. Ali Senejani says:

    Awesome review Timon. Last trading week was pretty good. We saw nice moves on EURJPY, EURNZD, USDCHF and Gold from potential zones that you mentioned two weeks ago. Thanks mate.

  6. Hi Timon, is it possible to get your point of view on the US $ index?

    • Hey Tony,
      Yeah sure. Recently this index tested a potential bullish evidence area ( the 92.62 zone area ), which the bulls held and gave a nice move to the upside from this area. Potentially this market may continue after that test of that area all the way up to the 93.86 zone area. Below is my current chart view of this market.

      Above – US Dollar Index Daily – click chart screenshot for larger view of this market

  7. Hi Timon, what determines the time frame for your reviews?

    • Hey Tamo, Yeah, good question. Firstly, to clarify, when I am highlighting an important zone on the daily chart, it does not mean that a trader has to look for aligning evidence and a potential opportunity on that time frame. A trader could be looking for aligning evidence and a potential opportunity in that area on the daily, 8 hour, 4 hour, 1 hour or even lower.

      In some instances, it is preferred for traders to look for aligning evidence and a potential opportunity on lower time frames than the daily chart to improve the risk to reward profile of the trading zone area. A good example of this is if a daily trading range is small at that time on a market.

      Because of those reasons above, in some instances I will show an important daily trading zone area on the 4 hour and sometimes even the 1 hour time frame in the reviews. Of course, like I mentioned initially in this reply these areas can be traded on multiple time frames.
      Regards,

  8. Timothy Sejeng says:

    Hi Timon,
    I sometimes don’t find the “Like” button on the video review itself, because I’m not on facebook.
    Is there another way to access it?
    Thanks for the great reviews.

    • Hey Timothy,
      Thanks for the interest in sharing or liking the topic page. I appreciate it.
      There is a Facebook share button to the left of the topic ( can only be seen on desktop though ) and there is a Facebook share button and Facebook like button at the bottom of page before comments ( screenshot below ).
      You’re welcome, have a great week!
      Regards,

      like forex reviews

  9. Thank you Timon. Great review! Could you tell me. What indicator do you use in important areas? Thanks!!

  10. Ali Senejani says:

    Hi Timon. Would you please advise on what is a realistic average monthly return in Forex? Thanks.

    • Hey Ali,
      Yeah good question, this depends on a number of factors:

      1. The methodology a trader is trading
      2. Size of account
      3. How much a trader is risking per trade
      4. How often a trader trades
      5. What time frame a trader trades
      6. Average reward to risk ratio of trades taken
      Example: 3 to 1 reward to risk average

      Regards,

  11. Hi Timon,
    Thank you for these reviews!

  12. Ali Senejani says:

    Hi Timon.
    I have attached the charts below (NOKSEK and USDCZK). Would you check if my zones are drawn correctly?

    NOKSEK Daily Chart:

    USDCZK Daily Chart:

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