Weekly Forex Review – 11th to the 15th of December

Welcome to this week’s edition of the Weekly Forex Outlook and Review, this edition this week for 11th to the 15th of December Forex Market. Aspects covered in the review include analysing how price action moved last week on multiple markets, as well as highlighting potential opportunity areas ( trend continuation areas and counter trend trading areas in the market ), management point areas and target areas to be aware of this week.

Pairs and Markets Analysed this Week: EURUSD, GBPUSD, AUDUSD, NZDUSD ( 4 Hour ), USDCHF, Gold, Silver, USDJPY, GBPAUD ( 4 Hour ) and AUDNZD.

Expecting a great week in the market with plenty of potential opportunities.

Be aware that for all those that trading US based markets this week that on Thursday, the 14th of December that economists are forecasting another Fed Interest Rate rise from 1.25 to 1.50 percent. I suggest traders reduce risk and exposure to US based markets before the event.

To check out the exact release date and time of this event based on your location and other economic events this week click here.

 
Above Video – Weekly Forex Outlook and Review for the 11th to the 15th of December Forex Market

Are You Looking for an Effective Trading Strategy?

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 daily trading areas 11th of december

Above – Highlighting on EURUSD 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 1.17 zone area.

gbpusd daily trading zone areas 11th of december

Above – Highlighting on GBPUSD this week two zones:

  1. The 1.3583 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 1.3281 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area.

usdjpy daily trading areas 11th of december

Above – Highlighting on USDJPY the 114.31 zone area as a potential target area for those holding a buy 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.

gbpaud 4 hour bullish trading zone

Above – Highlighting on GBPAUD this week a potential bullish evidence pullback area, that area is the 1.7564 zone area, a great area on this market to look for bullish evidence and a potential move to the upside from this area. At the moment, GBPAUD is in an uptrend and the 1.7564 zone area is a great area in that trend to look for potential continuation.

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. Hey Timon
    Another great review – have a profitable week!

  2. Frank Nilson says:

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

  3. Ali Senejani says:

    Hi Timon. Thank you for the great video.
    EURUSD dropped well from the zone that you highlighted last week. Now watching the support area.

    • You’re welcome Ali, thanks.

      • Ali Senejani says:

        Hi Timon. Could you advise your view on USDMXN?
        Below is USDMXN Daily Chart:

        USDMXN

        • Hey Ali,
          Yeah sure. Where this market is testing at the moment is a potential bearish evidence area on this market. An area where traders could look for bearish evidence and a potential move to the downside, potentially a move all the way down to that previous minor low or high area looking left or long term to the 18.46 zone area.
          Regards,

          Above – USDMXN Daily – click chart for larger view of this market.

  4. Hello Timon.
    Last week we discussed the NZD/CHF. You wrote to me that the .68220 is a management point area. Does that mean I should just look out for changes in that area? and where do I take profit? only at the longterm target area of about .68900? Should i take profit there and make a new order and let that run until there’s an opposing candle? Please advise as your advice is always on target.

    Thank you very much and waiting to hear from you very soon.

    • Hey Robert,
      In reference to that management point area on that market that I mentioned in the previous update of this market, it is an area where traders can optionally reduce the risk of a position by taking either partial profits ( such as closing up to half as an example ) of a position or locking in trade at break even ( or both ).

      Essentially, a management point area is an area on the way to a long term target area where a trader can either reduce or remove risk on a position. For more on what is a management point area ( video ) visit here.

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

      Let me know if that helped clarify your question, any other questions let me know.
      Regards,

  5. Hi, thanks again for your regular reviews! You are often right in your reviews.
    What do you think about cryptopairs? Do you trade BTC?
    What is your present view on USDCAD?
    Thank you.

    • You’re welcome Albert, thanks for the feedback.
      Yeah, good question. Cryptopairs can be treated similar to other markets in reference to trading.
      I would suggest however that due to the volatility of markets such as Bitcoin, traders that are considering trading markets like this to trade these types of markets on lower time frames ( below the 1 hour time frame ).
      I have not traded them yet, however the broker I use does offer some of them ( Bitcoin, Bitcoin Cash, Dashcoin, Etherium and Litecoin ) so I will consider trading them in the future as a part of the markets I trade.

      Bitcoin 30 minute chart bullish pullback areas

      Above – Bitcoin USD 30 minute chart – click chart screenshot for larger view of this market

      Regards,

    • USDCAD recently tested the 1.2736 zone area which is a potential bullish evidence area on this market. On that latest recent test last week the bulls held that zone area again and gave another nice move to the upside from that area. Potentially this market may move all the way up to that previous recent high area or potentially all the way up to the 1.3041 zone area long term.

      USDCAD daily trading areas

      Above – USDCAD Daily – click chart for larger view of this market

  6. Hi Timon, thanks, great as usual.

  7. Peter Harris says:

    Hi Tim,
    Thanks for the review, would you mind covering GBP/CAD if you have time?
    Thanks
    Peter

    • Hey Peter, you’re welcome.
      Yeah sure, below is my current technical view of this market ( GBPCAD ).

      GBPCAD: The 1.6973 zone area is a great pullback area on this market in the trend to look for bullish evidence on tests of this important area and a potential move to the upside from this area, potentially all the way up to those previous highs or potentially even higher in the trend. Recently this market tested this area as seen in chart screenshot below and gave a strong move higher from this area.

      At the moment GBPCAD is in a uptrend and pullback areas to the downside are the preferred areas to be trading on this market.

      GBPCAD bullish evidence trend pullback area

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

  8. Lewis Smith says:

    You’re awesome Timon,
    Purchased the engulfing trader the other week and I’ve been studying it a lot.
    Please keep doing these reviews as they are extremely helpful
    Thank you

  9. Hi Timon
    I’m so sad to see that there’s no review for this week. But thank you so much for the tips on the NZD/CHF. It really worked out for me. I would like to know… Do you think that NZD/USD is at a good place for a bearish move?
    Waiting to hear from you soon.

    • Hey Robert,
      Hope you are having a great week!
      I will be back with a video update soon. At the moment, there is a short break from the video reviews during the Christmas and New Year period. Glad to hear you profited from that recent move on NZDCHF.

      As for NZDUSD below is my current chart view of this market and potential trading areas:

      1. The 0.7058 zone area as a potential bearish evidence area
      2. The 0.6944 zone area as a potential bullish evidence area

      Recently this market broke above and closed above the 0.6944 zone area, pullbacks and tests of the 0.6944 zone area is now a great area on this market to look for a potential bullish opportunity on this market and potential continuation to the upside, potentially all the way up to the 0.7058 zone area or higher.

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

      Any other questions, let me know.

Speak Your Mind

*