MARKET COLOR FOR THE WEEK 18TH NOVEMBER 2024
Nov 17, 2024 11:21 pm
Hi ,
Happy New Week!
How was your trading last week?
It was a profitable week for us here at Value Flow Trading, and we’re looking forward to another week of exciting opportunities and gains.
Remember: "Consistency in withdrawals, no matter how small, keeps your morale high as a trader."
Here’s our analysis for the week ahead at Value Flow Trading:
USD: The dollar has remained bullish, continuing its rally post-election. It currently appears to be the most preferred safe-haven asset since the election results.
Looking ahead, we expect the dollar to continue its rally, followed by a pullback. This presents opportunities for short trades on pairs like GBP/USD and EUR/USD before considering long positions. Check the chart below for detailed insights.
JPY: Last week, the Yen basket was overall bullish but moved within a range. This caused other Yen-correlated pairs to remain bearish and range-bound.
For this week, we anticipate further sell-offs of the Yen to clear liquidity below the daily order block, which remains unmitigated. Afterward, a bullish trend is expected to resume. This presents more sell opportunities on Yen pairs as illustrated in the chart below.
GOLD: Last week, we saw a continuation of the sell-off in gold, with the precious metal trading below the 2550 level.
This week, we anticipate a pullback in gold before the sell-off continues, particularly when our Value Flow Models® align. Be sure to review the chart below for a comprehensive 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