Weekly Forex Review – 5th to the 9th of February

Welcome back traders to another edition of the Weekly Forex Outlook and Review, this edition this week for the 5th to the 9th of February Forex Market. Aspects covered in the review include evaluating how price action moved last week on multiple markets as well as highlighting important opportunity areas ( high probability trend continuation and counter trend areas ) to be aware of this week on multiple markets as well as management point areas and target areas.

Pairs and Markets Analysed this Week: EURUSD, AUDUSD, NZDUSD, AUDJPY, EURAUD, USDJPY, USDCAD and EURJPY.

I am expecting a great week in the market this week with plenty of potential opportunities.

For economic events this week click here.

 
Above Video – Weekly Forex Outlook and Review for the 5th to the 9th of February Forex Market

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

audusd daily 0.7831 bullish trading area

Above – Highlighting on AUDUSD  this week a potential 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. That area is the 0.7831 zone area.

usdcad h4 bearish zone 1.24331 zone

Above – Highlighting on USDCAD this week the 1.2433 zone area, an area where the market is just starting to test as a great area on this market to look for bearish evidence and a potential move to the downside from this area.

At the moment this market is in a downtrend and the 1.2433 is a great area on this market in the trend to look for potential continuation.

usdcad daily bearish zone 1.24331 zone

Above – USDCAD on the daily chart.

eurjpy 4 hour bullish trend pullback area 136.16

Above – Highlighting on EURJPY this week the 136.16 zone area as a great area on this market to look for bullish evidence and a potential move to the upside from this area. At the moment this market is in a uptrend and the 136.16  is a great pullback area in the trend on this market to look for potential continuation.

What Broker Do I Use?

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

Midweek Forex Reviews

Come back and check this space for potential upcoming Midweek Reviews in the week ahead. They will be added here.
Have a great trading week everyone and Happy Trading.

About Timon Weller

Timon Weller is the professional Trader behind the blog Forex Reviews as well as a 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 for visiting this week’s edition of the review, let’s all have a very profitable trading week!
    Any comments or questions let me know.

  2. Thanks for your review Timon.
    What are your thoughts on Gold?
    It tested the 1359.1 area and has made a bearish move.
    I have read that gold often has an inverse position to the US dollar and the dollar has just recently started showing some strength.

    • You’re welcome David,
      The previous review I did on that market is here – https://www.forexreviews.info/weekly-forex-review-22nd-to-the-26th-of-january/
      Recently this market has been testing the 1341 zone area which is a potential bearish evidence ( area I highlighted in previous review of this market ), an area where the bears have been defending multiple times in recent price action. Potentially this market may continue all the way down to that previous minor low and high area or all the way down to the 1298 zone area which is a potential bullish evidence area on this market.
      Yes, if referring to XAUUSD it is inverse to US dollar as that markets value is against the US dollar.
      Regards,

      gold 4 hour

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

  3. Thanks for the review.
    Would you share you thought about gbpusd?

    Thanks.

    • You’re welcome Agung.
      Yeah sure, my preference on that market at the moment is waiting for a pullback in the trend to look for a potential bullish opportunity on this market however I will note that where the market has been resisting in recent price action ( the 1.42 zone area ), while this is a counter trend zone on this market is a potential bearish evidence area. An area on tests of this area where traders can look for a potential bearish opportunity on this market and a potential move all the way down to the 1.3830 zone area ( potential bullish evidence area ).
      Regards,

      gbpusd daily zones

      Above – Gold Daily- click chart screenshot above for larger view of this market

  4. Frank Nilson says:

    Hi Timon, thanks for the review. It is appreciated. Enjoy your trading week.

  5. TOny Biasillo says:

    Very good review – Much Thanks!!

  6. Just want you to know even though I have not commented much lately. I still follow you and have done so for several years. Your sound approach along with your simple easy to follow courses are the best for the money I have seen and I have attended 100’s of webinars and 100’s of others information.Once you understand your concept it is so easy to spot the bogus traders (if they do trade) out there which will save you a ton of money. Thank you for this honest approach.

  7. Hello Timon thanks for a great review and have a great trading week .

  8. Ali Senejani says:

    Hi Timon. Thank you for the great analysis. We saw many of the pairs from last week’s review did so well, such as AUDUSD, NZDUSD and EURAUD.
    Thank you and have a wonderful week ahead.

  9. THANKS TIMON

  10. Judith Boucher says:

    Hi Timon,

    It would be nice if you would sell signals. I would subscribe right away.

    Thank you for your review.

  11. Hi Timon,
    Thanks for a superb review and thank you so much for helping me to get a few winning trades at last!
    May I please check that if the price goes even further past your suggested levels, that the trade is still valid but that it’s even better value?
    For example, we were waiting for USDCAD to hit 1.2433 to then look for a SELL. The price has gone a fair bit higher up to 1.2540 which itself looks to be an important level. Is it wise to take a SELL from that 1.2540 level, being an even better price than the expected bounce at the 1.2433 level? The candles on the DAILY chart leading up to the 1.2540 level are very strong so would that make you wary about taking a trade there? There are also strong candles on the 4 HOUR chart leading up to 1.2540, but price seems to be faltering at that level on the 4 HOUR chart. Is that 4 HOUR chart a good opportunity to SELL or is it best to wait for the low of the 5th Feb candle (1.24841) to be broken to enter just below that?
    Thanks for your thoughts on this 🙂

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