MARKET COLOR FOR THE WEEK 22ND APRIL 2024

Apr 28, 2024 8:33 pm

Hello ,


Happy New Week!


Welcome to the last leg of the month of April. How has the month been so far? I believe it's been profitable.


Remember, "The financial markets are a reflection of your decisions. Trade with intention, analyze with precision, and let your portfolio speak for your expertise."


Here's our analysis for the week ahead at Value Flow Trading:


USD: Last week, the dollar was bearish until it regained its bullish momentum again on Friday after the release of the PCE data, making all its correlated pairs bearish.


Looking ahead this week, we still anticipate a pullback of the dollar followed by a continuation of its bullish trend, as illustrated in the chart below. This suggests initiating long positions on its correlated pairs (GBPUSD, EURUSD), followed by a continuation of the sell-off.


image


JPY: Last week, the Yen slid further deeper, creating a new all-time low upon the release of the BOJ interest rate, which was kept at the last month's hiked rate.


This week, we anticipate the Yen to pull back from the last week's sell-off before it continues its direction, indicating potential bearishness for Yen-correlated pairs.


image


GOLD: Last week, the Gold Spot was bearish as analyzed, pulling back from its all-time high into the daily ORDER BLOCK.


In the upcoming week, we expect the Gold Spot to pull back into the newly created ORDER BLOCK on the daily timeframe before it continues to sell as analyzed in the chart below, particularly when our Value Flow Modelsยฎ align.


image


Remember to always trade cautiously and implement proper risk management strategy as we expect the FOMC and NFP this week.


Wishing you a successful and profitable month ahead!

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Cheers!


VFT Team

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