Weekly Forex Review – 6th to the 10th of November

Welcome back traders to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for the 6th to the 10th of November Forex Market. Aspects highlighted in the review include evaluating how price action moved last week on multiple markets as well as highlighting potential trading areas, management point areas and target areas.

Pairs and Markets Analysed this Week: EURUSD ( 4 Hour ), GBPUSD, AUDUSD ( 4 Hour ), NZDUSD ( 4 Hour ), USDCHF, EURNZD, GBPCAD and EURCAD.

Potential trading areas highlighted this week include both high probability trend and counter trend areas.

For economic events this week click here.

 
Above Video – Weekly Forex Outlook and Review for the 6th to the 10th of November Forex Market

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audusd 4 hour potential target and bullish evidence trading area

Above – Highlighting on AUDUSD the 0.76 zone area as a potential target area to the downside for those holding a sell position on this market as well as a great area to look for bullish evidence and a potential move to the upside from this area.

Last week AUDUSD pulled back and tested the 0.7712 zone area where the bears took control and gave a nice move to the downside from this area. The 0.7712 zone area was an area that I highlighted last week in the review as a potential bearish evidence pullback area on this market.

usdchf daily potential trading areas

Above – Highlighting on USDCHF the 0.9863 zone area as a great area on this market to look for bullish evidence if the market tests this zone this week and a potential move to the upside from this area.

gbpcad daily bullish evidence trading area

Above – Highlighting on GBPCAD the 1.66 zone area, a great area on this market to look for bullish evidence ( and if the right sort of bullish evidence, a potential bullish opportunity in this area ) and a potential move to the upside from this area.

eurgbp daily trading areas

Above – Last week EURGBP retested the 0.8759 zone area, a potential bullish evidence area on this market ( area highlighted last week in the review ) and gave a strong move to the upside from this area all the way up to the 0.8932 zone area which is a potential target / management point area on this market.

Previously in past recent reviews of this market I have highlighted the 0.8932 zone area as a potential management point area from the 0.8759 zone area, however since this area has acted as strong resistance multiple times in recent price action my bias has now changed to seeing this area as a potential target area as well as a potential bearish evidence area on this market.

What Broker Do I Use?

A common question I get asked at the website is what broker I use to to trade the Forex Market? In this video here I answer that question.

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. Thank you Timon for an excellent weekly review. The markets are being very difficult to trade at the moment so I am just waiting until potential trades start to appear. Cheers mate. JOhn R

  2. Frank Nilson says:

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

  3. Fantastic review Timon my compliments and cheers. In regards to AudUsd I made some calculations and the area for bullish evidence I thought was 0.7620, not 0.7600! Of course I follow your advice. Best regards

    • Thanks Fabrizio.
      Yeah that is fine, you could set the start of the zone area a little bit higher based off that previous low. However I will note that the 0.76 area has been tested multiple times in the recent past ( looking left on daily ) so it is likely that price will test the 0.76 price level. Also this is a round number on this market.

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

  4. Vincent Foo says:

    Thanks Timon. Been trading last week on gbpusd as it has been the weakest currency, therefore it was a big sell off.
    Thanks again for your review, appreciate.

  5. Thanks Timon
    Cheers

  6. TIMON great job!!! the best forex review

  7. Thanks Timon for another great review, take care : )

  8. GREAT!

  9. Hey Timon, Tony here, Thanks for all your great work. Can I please get your opinion on GBP/JPY & XAU/USD ?

    • You’re welcome Tony, thanks.
      Yeah sure. Below is my current analysis of those markets.

      Last week in price action GBPJPY tested that previous high area on this market ( the 151.77 zone area ) where the bears took control pushing this markets price lower from this area. Potentially this market may continue all the way down to the 147.54 zone area which is a great area on this market to look for bullish evidence and a potential move to the upside from this area.

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

      Gold is still testing that low area, bulls have been defending this area multiple times now in recent price action so a trader could look for a potential bullish opportunity in this area.

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

  10. Thank you again! Great video!
    Thorben

  11. Very nice weekly review! – have a great week!

  12. Hi Timon, thank you for your kind reply. In regards to AUDUSD if the 076 zone has been tested more times is there a risk of support broken?
    Thank you and a lot of greetings

    • You’re welcome Fabrizio. Greetings!
      Yeah good question, I would suggest seeing each test of a zone area probability wise in the same way, unless price has not tested that area recently.
      Regards,

  13. Thks Timon. Great review!!

  14. Forex Update – Last week CADJPY pulled back to test the 88.38 area ( previous high area looking left ), when price came into this area the bulls took control and gave a nice move to the upside from this area ( screenshot below ).

    At the moment this market is testing a management point low area ( area to remove risk by taking partial profits or optionally setting break-even for those holding a buy position on this market ), however this market has potential to move all the way back up to the next high or to the 91.22 zone area.

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

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

  15. Timon you are fantastic . I ‘d like your opinion on EurUsd.
    Thank you very much
    Cheers

  16. Ali Senejani says:

    Hi Timon. Your weekly videos are always great. We had lots of pairs that performed well since last week. Thank you.

  17. Ali Senejani says:

    Hi Timon. EURJPY seems to be in the support zone and is showing nice evidence on lower time frame. Any advise on that? Thanks.
    Below is EURJPY Daily chart.

    EURJPY

    • Ali Senejani says:

      Timon, EURJPY performed very well from that support zone. Would you be looking at 133.00 for the next management point?

  18. Hi Tim,
    Great weekly forecasts!
    Always respected pure price action traders.
    Your site is a fantastic trading resource for both, newbies and experienced traders.
    My compliments, to a fellow trader!

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