MARKET COLOR FOR THE WEEK 18TH DECEMBER 2023
Dec 17, 2023 9:13 pm
Hi ,
Happy New Week!
Hope you didn't give all you made this year back to the market last week?
Remember, "As a trader, you are not defined by your wins or losses but by your ability to adapt. Embrace change, learn from experiences, and let your resilience be your legacy."
Here at Value Flow Trading, this is our analysis for the week:
USD: Last week, we saw the dollar bearish against the bullish analysis, showing weakness throughout the week.
Going forward this week, we anticipate a little pullback and then continuation of the bearish trend for the dollar, as illustrated in the chart below. Therefore, we are considering shorting the dollar this week, implying long positions on its correlated pairs (GBPUSD, EURUSD) when a structure for a dollar short is identified, as illustrated in the markup below.
JPY: Last week, the Yen was bullish but couldn't break the expected resistance, clearing all liquidity as anticipated.
This week, we anticipate a bullish Yen as it breaks the expected resistance, as shown in the chart below, suggesting that Yen-correlated pairs might be bearish. However, the overall trend for the Yen is now bullish.
GOLD: Last week, the Gold Spot pulled back from its bearish move due to dollar weakness.
Moving forward this week, we expect the Gold Spot to pull back to the broken support and continue its bearish move, as illustrated in the chart below.
Therefore, this week, we are looking forward to short the Gold Spot as soon as our Value Flow Models® align.
Remember to trade cautiously and stick to your risk management plan as liquidity begins to dry up in the market.
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MILLIONAIRE TRADER BLUEPRINT for 2024
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Wishing you a successful trading week!
VFT Team
