Hello ,
Happy New Week!
How has this month been at your end?
Over here, it's been a mixed month, as August is known to be a vacation month in trading.
Last week, we predicted the dollar crash as a pullback which we expect to continue its uptrend. And we truly saw it play out last week as dollar to naira moves from #830 to #915.
, I want to believe you used that opportunity well
Remember, "Successful traders embrace risk management as a shield and discipline as their sword. Protect your capital, make calculated moves, and let patience and strategy be your guiding principles."
OUR ANALYSIS FOR THIS WEEK
USD: Last week, we saw a bullish dollar as it cleared the nearest buy-side liquidity and attempted to clear the next one.
This week, we expect more of the bullish move briefly, then the continuation of its bearish trend, as the dollar trend is still structurally bearish.
Therefore, we look forward to shorting the dollar (long-term), which implies longing its correlated pairs (GBPUSD, EURUSD) when we see a structure for the dollar sell, as illustrated in the markup below.
JPY: Throughout last week, the YEN was ranging against our BULLISH prediction.
This week, we still expect a bullish YEN, as illustrated in the chart below, to clear the buy-side liquidity, which implies that YEN correlated pairs may be bearish. However, the overall trend for the yen is still a downtrend.
GOLD: Last week, we saw the Gold spot rally and break the bearish parallel channel as predicted, but it's yet to reach our POI.
Moving forward this week, we still expect to see the Gold spot rally to the trend line. Therefore, this week we are looking to LONG the Gold Spot as soon as our Value Flow Models® align.
Make sure you trade cautiously and stick to your risk management plan this week as we expect some High Impact News.
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Cheers and have a profitable Week!
VFT Team
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