Weekly Forex Review – 7th to the 11th of August

Welcome back traders to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for the 7th to the 11th of August. Aspects highlighted in the review include evaluating how price action moved last week on multiple markets, as well as highlighting high probability opportunity areas in the market, management point areas and target areas.

Pairs and Markets Analysed this Week: EURUSD ( 4 Hour ), GBPUSD ( 4 Hour ), AUDUSD, NZDUSD, USDCAD ( 4 Hour ), AUDJPY, Gold and EURGBP.

For economic events this week click here.

Last week: EURUSD continued higher last week all the way up to the 1.19 bearish evidence area before finding weakness and moving lower from this area ( screenshot below ). USDCAD moved higher from the 1.2490 zone area, this was a potential bullish evidence area that I highlighted last week in the review ( screenshot below ). GBPCAD tested the 1.66 bearish evidence area, area highlighted last week in the review, before moving lower from this area. NZDUSD moved lower getting close to testing the 0.7375 zone area which is a potential bullish evidence area on this market ( screenshot below ). AUDJPY moved lower getting close to testing the 0.87 which is a potential bullish evidence area on this market ( screenshot below ).

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

 
Above Video – Weekly Forex Outlook and Review for the 7th to the 11th of August Forex Market

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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.

eurusd 4 hour 1.19 bearish evidence zone and 1.1550 bullish evidence zone

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.

Last week EURUSD continued higher all the way up to the 1.19 bearish evidence area before finding weakness and moving lower from this area. Previous update on this market ( midweek update ) – click here.

GBPUSD 4 hour 1.2960 bullish evidence area

Above – Highlighting on GBPUSD the 1.2960 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

NZDUSD daily 0.7375 bullish evidence area

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.

Previous update on this market ( midweek update ) – click here.

USDCAD 4 hour 1.2490 bullish evidence area and 1.2764 bearish evidence area

Above – Highlighting on USDCAD the 1.2764 zone area as a great target area to the upside for those holding a position on this market, as well as a great area on this market to look for bearish evidence and a potential move to the downside from this area.

Last week USDCAD was a great performer moving higher from the 1.2490 zone area on this market, this was a potential bullish evidence area that I highlighted last week in the review on this market.

Previous update on this market ( midweek update ) – click here.

AUDJPY daily 87 bullish evidence zone

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. This is the same zone that I highlighted last week in the review on this market, however decided to highlight again this week as this market is close to testing this important area.

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. I appreciate you highlighting USDCAD last week and reviewing it again this week and suggesting to take profits at the 1.2764 zone. I watch for other confluences for an indication when to close a trade in the same way I open a trade. Cheers mate. John R

  2. Hi Timon
    Just to let you know how much I appreciate your weekly reviews and tips always

    Thank you

  3. Thanks Timon, nice review : )

  4. I always appreciate your reviews Timon.
    Thanks again.

  5. Another great review, many thanks Timon and good luck for the week ahead.

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

  7. Thanks for the weekly reviews. Greatly appreciate you sharing your views for the markets in the upcoming weeks.

  8. Thanks Timon

  9. Veronica says:

    Appreciate your reviews as always. Thanks timon

  10. Mike Alford says:

    Thank you timon I had another great week last week because of your teaching and I can’t wait for this week ahead

  11. Priceless says:

    GREAT TRADE SETUPS! THANKS TIMON. I LOOK FORWARD TO GOING THROUGH ALL YOUR TRAINING SERIES NEXT WEEK.

  12. Thanks again Timon for an other great review Andrew.

  13. Thanks for the trade setups, looking good.
    Have a great week

  14. Thanks, great job like always. I love the forex update.

  15. TOny Biasillo says:

    Hey Timon,
    Another great weekly review – thanks much!!

  16. Hi Timon
    Thanks for weekly reviews.

  17. Per Madsen says:

    Hey Timon

    Was just wondering if you have an Tradingview.com account we could follow ?

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