MARKET COLOR FOR THE WEEK 20TH MAY 2024
May 19, 2024 7:32 pm
Hello ,
Happy New Week!
Hope last week was a profitable one for you?
Remember, "As a trader, you have the power to turn financial uncertainty into opportunity. Embrace the challenge, trust your instincts, and conquer the markets."
Here's our analysis for the week ahead at Value Flow Trading:
USD: Last week, the dollar was bearish contrary to our analysis. It sold into the daily order block on Thursday and resumed its bullish move with little momentum.
Looking ahead this week, we still anticipate a bullish dollar, as illustrated in the chart below. This suggests short positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen was bearish contrary to our analysis for a long position, trading through the daily FVG and sitting right inside the Order Block.
This week, we anticipate a rally of the Yen from the daily Order Block to clear liquidity above, as illustrated in the chart below, indicating potential bearishness for Yen-correlated pairs.
GOLD: Last week, the Gold Spot was bullish, attempting to clear the all-time high and achieve a new high.
Moving forward this week, we expect the Gold Spot to sell into the daily FVG as marked in the chart below, particularly when our Value Flow Modelsยฎ align.
Remember to always trade cautiously and implement proper risk management strategies.
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Wishing you a successful and profitable week ahead!
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Cheers!
VFT Team