Weekly Forex Review – 9th to the 13th of October

This edition of the Weekly Forex Outlook and Review for the 9th to the 13th of October Forex Market. Aspects highlighted in the video review include analyzing 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.

Pairs and Markets Analysed this Week: EURUSD, GBPUSD ( 4 Hour ), AUDUSD ( 4 Hour ), NZDUSD, Gold, USDCAD, AUDCHF, GBPAUD, EURNZD, EURGBP, GBPJPY and AUDNZD ( 4 Hour ).

Last week was a strong week for the US dollar causing some trends on US based pairs to change.

Both high probability trend and counter trend zones highlighted this week in the review.

For economic events this week click here.

 
Above Video – Weekly Forex Outlook and Review for the 9th to the 13th of October Forex Market

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

gbpusd 4 hour opportunity zones

Above – Highlighting on GBPUSD this week two zones:

  1. The1.3235 zone area as a great area on this market to look for bearish evidence and a potential move to the downside from this area.
  2. The 1.2989 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

gbpusd daily

Above – Showing the same trading zone areas in more detail on the daily chart

nzdusd daily potential trading areas

Above – Highlighting on NZDUSD this week two zones:

  1. The 0.72 zone area as a great area on this market to look for bearish evidence and a potential move to the downside from this area.
  2. The 0.7050 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

gold daily trading areas

Above – Highlighting on Gold this week two zones:

  1. The 1291 zone area as a great area on this market to look for bearish evidence and a potential move to the downside from this area.
  2. The 1251 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

gbpaud daily potential trading areas

Above – Highlighting on GBPAUD the 1.6677 zone area as potential target area for those holding a sell position on this market ( from the 1.71 bearish evidence area ) as well as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

eurnzd daily potential trading areas

Above – Highlighting on EURNZD the 1.6646 zone area as potential target area for those holding a buy position on this market ( from the 1.6165 bullish evidence area, a potential bullish evidence area highlighted in recent reviews 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.

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 tradig 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. Unfortunately, I was stopped out of AUDUSD trade last week off a pinbar/engulfing candle, what looked like a support level. There are many potential trades lining up this week especially amongst the CHF and JPY pairs. Cheers mate JOhnR

    • You’re welcome John, thanks. Yeah, last week strength in the US dollar was more than expected so some US based pair zones did not hold unfortunately including AUDUSD.
      Have a great trading week! 🙂

  2. Thanks Timon
    If a pair is moving towards a target area on the daily and you are not holding a trade, and provides a trading entry on a pullback back on a hourly or 4 hourly time frame would you take an entry?

    • You’re welcome David.
      I assume you are referring to a opportunity area rather than a target area. If so, it would depend on if price has tested the zone and if a valid setup presents itself on a pullback in that area on 4 hour and 1 hour.
      If so, then yeah sure.
      Regards,

  3. Thanks Timon, quite a few opportunities setting up this week in the markets.

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

  5. Hey Timon,
    Very good weekly review – much thanks!! Have a good trading week.

  6. Ali Senejani says:

    Thank you for the nice review Timon.

  7. Thank you Timon. Great job mate. How is going your new course, in past you said me that you prepare something new. I think that everybody will be interested. Wish you all the best!!!

    • You’re welcome Dragan, thanks. 🙂
      Yeah good question, thanks for the interest in upcoming training.
      I am currently overseas at the moment visiting my wife’s family, however when I get back home which is next week this will be my main focus.
      Have a great trading week!

  8. Thanks Timon, great review.

  9. Ali Senejani says:

    Hi Timon, has USDCHF broken above the resistance zone or are we still looking for sell setup?

    • Hey Ali,
      Yes, last week that market broke above and closed above that area ( the 0.97 zone area ). Now that the market has done this, this area is a potential bullish evidence pullback area on this market.

      Below is my current chart view of that market:

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

  10. Hans Driezen says:

    Great review as always, Timon. CHFJPY is also in a very good Daily support zone at 115. Looking for a move up to 116-116.40 and eventually to 117.80.

    Cheers,

    Hans

  11. After checking the charts this morning for potential trade setups on my trading laptop and then leaving my laptop for a few minutes I come back to my daughter checking the same charts.

    I asked her “What do you think? Is that market going up or down?”

    And she said “up and down”. She is now three years old, however, is already starting to become aware of some aspects of the trading world.

    I then said to her, “do you want to go for a swim in the pool” and she said, “in a moment, I am still working”. I look at the screen to see what she is looking at and she is looking at EURUSD.

    Hope everyone is having a great day!

    • Ali Senejani says:

      hahaha that was a nice one Timon. She is already showing interests in trading.
      My daughter cries when I look at the charts from my desk. So I have to sit close to her on the sofa and do my work, then she will be quiet. I guess soon she will start talking and asking questions about the charts….

      trading with a baby

  12. Thats so cool.

  13. David Lacy says:

    Hey Timon,
    I was wondering why you think the USDCAD will bound off the 1.2423 zone instead of continuing to trend down? I have all your videos and I know there is a 60% chance or higher there will be a bounce off daily structure But I am not seeing anything like a new higher high or higher low that would make me think the downtrend would not continue. I am very new to trading so hope this is not a bad questions. From my limited knowledge I would have assumed the trend would have continued down and it would be a bad idea to buy at any area without a new higher high or higher low. Thanks for the help.

    • David Lacy says:

      After watching it again. You answered it at the beginning. I guess I am just not understanding it fully as to why that zone is more important than the trend itself. I will keep watching and learning.

      • Hey David, when a previous higher low is broken in downtrend it indicates a potential change in trend, however you are correct that the downtrend may still hold without a higher low or higher high. I suggest traders trade potential changes in trend as reward potential is very high with these types of trend setups as it is probable the beginning of a new trend.

        A new higher low and higher high confirms the trend change.
        Regards,

    • Hey David,
      The reason for potential change in trend is because the previous low did not hold as a resistance. If you wish to wait for a higher low that is fine confirming the trend change.

      Above – USDCAD Daily

  14. U r teachings and valuable information on fx trading has greatly improved my knowledge.Thanks Timon

  15. EURNZD was a great performer this week testing the 1.6646 zone area ( a potential bearish evidence area mentioned in this week’s review on this market ) and gave a strong move to the downside from this area. Potentially this market may continue all the way down to the 1.6166 zone area on this market, of course being aware of those minor highs and lows as potential management point areas on this market.

    Here is my 4 hour chart of this market:

    EURNZD potential zones update

    Above – EURNZD 4 Hour Chart – click chart for larger view of this market

    Regards,

  16. Hi! Are you going to post your market overview for this week?

    • Hey Tai,
      Thanks for the comment.
      Unfortunately I did not have time to do the review this recent weekend.
      Any questions on any market before the next review, let me know.
      Regards,

  17. Forex Update – EURUSD has been a great performer this month testing the 1.17 bullish evidence area and giving a nice move higher from this important zone and also recently testing the 1.1877 zone area ( bearish evidence area ) and giving a nice move lower from this important area. Both of these areas are areas that I have highlighted in recent reviews as potential trading areas on this market.

    Above – EURUSD 4 Hour Chart – click chart for larger view of this market

  18. Hi!

    Could you do a review for the USD/JPY market?

    Thanks!

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