MARKET COLOR FOR THE WEEK 25TH MARCH 2024
Mar 24, 2024 6:00 pm
Hi ,
It's a new week, and another opportunity for you to excel in your trading career.
Remember, "Success in trading is not about the destination; it's about the journey of continuous improvement. Strive for excellence, evolve with the markets, and enjoy the ride."
Here's our analysis for the week at Value Flow Trading:
USD: Last week, the dollar turned bullish after the Federal Fund Rate remained unchanged despite speculation about a rate cut from the Federal Reserve.
Looking ahead this week, we anticipate a bearish dollar, illustrated in the chart below due to the unchanged interest rate last week. This suggests long positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen experienced heavy bearishness following the first interest rate hike in 17 years, leading to a new all-time low. However, we're beginning to see a market structure shift to the upside on the 4-hour timeframe, indicating a potential trend reversal.
This week, we anticipate a bullish Yen, suggesting that Yen-correlated pairs might be bearish.
GOLD: Last week, the Gold Spot remained bullish, continuing its price discovery phase by creating a new high around the 2222.915 level.
In the upcoming week, we expect the Gold Spot to experience a slight pullback before resuming its rally, as illustrated in the chart below and aligning with our Value Flow Modelsยฎ.
As always, trade cautiously and implement proper risk management strategies.
Wishing you a successful and profitable week ahead!
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Cheers!
VFT Team