MARKET COLOR FOR THE WEEK 21ST OCTOBER 2024
Oct 20, 2024 10:50 pm
Hi ,
Happy New Week! I hope last week was a profitable one for you.
As a reminder: “Trading isn’t just about making money; it’s about mastering the art of decision-making. Sharpen your skills, stay informed, and let your expertise shine.”
Here’s our analysis for the week ahead at Value Flow Trading:
USD: The dollar was bullish last week, trading into the daily order block around the 103.850 zone, where we expect a potential sell-off.
Looking ahead, we anticipate a pullback in the dollar, signaling LONG opportunities on pairs like GBPUSD and EURUSD. Check the chart below for more details.
JPY: The Yen continued to range last week and hasn't yet reached our Point of Interest (POI), leaving other Yen-correlated pairs range-bound as well.
For this week, we foresee further sell-offs before the Yen resumes its bullish trend. This presents SELL opportunities on Yen pairs, which are highlighted in the chart below.
GOLD: Last week, Gold reached a new all-time high around the 2722 level—the highest price ever recorded for the precious metal. Its overall trend remains bullish as it continues to be the preferred safe-haven asset.
We expect a slight pullback before the bullish trend resumes, especially as our Value Flow Models® align. Review the chart below for a detailed analysis.
Remember to always trade cautiously and implement proper risk management strategies.
Wishing you a profitable trading week ahead!
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Cheers!
VFT Team