MARKET COLOR FOR THE WEEK 26TH JUNE 2023
Jun 26, 2023 9:27 am
Hello ,
It's a new week!
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."
Here at Value Flow Trading, this is our analysis for the week:
USD: last week we saw a bullish dollar as predicted in our weekly analysis and how it's correlated pairs were selling such as GBPUSD. This week our bias for the dollar still remain the same. which means we expect the continuation of the dollar rally.
Therefore, this week on the floor we look forward to longing the dollar, which implies we would be shorting foreign currency pairs such as GBPUSD, EURUSD and other dollar pairs.
JPY: last week we also saw a brief retracement of the YEN, then the continuation of the bearish trend as it expanded to the downside again forming the new all time low in 4 years.
This week, we still expect a brief retracement, which implies that YEN correlated pairs will be bearish. However, the overall trend for the yen is still a down-trend.
GOLD: Last week we saw Gold spot break out of the range to the downside. This week we expect to short Gold as we expect the continuation of the dollar rally.
Therefore, we look forward to ride the bearish trend whenever we see a clear structure supporting our sell bias, and also when our Value Flow Modelยฎ for Gold aligns.
Make sure you trade cautiously and stick to your risk management plan.
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Cheers and have a profitable week!
VFT Team