Here's Our Analysis for the Market This Week
Apr 17, 2023 9:14 am
Hello ,
Trust your weekend was full of fun and hope you are prepared for a profitable week.
Here at Value Flow Trading, our sentiment for this week is as follows:
USD: last week we saw a very bearish dollar which later on Friday became bullish. On the monthly time frame, we see dollar sitting on a strong support which has a FVG below that price tested last week. Also on the other side we saw a FVG on the upside where price should be heading to this week. This gives a clear verdict for a bullish dollar for the week. This implies we would be shorting Foreign currency pairs such as GBPUSD, EURUSD and the correlated pairs for the week.
JPY: last week we saw a weak YEN as analyzed. But currently its in a discount of that last week pricing. Therefore we may see a retracement first to the mid-premium the continues the sell. This implies that we would be longing the yen associated pairs such as GBPJPY for the week. We are also looking out to long the USDJPY due to the dollar strength and the yen weakness.
GOLD: Gold has been dangling in the all time high and resistance for weeks now. But sold as expected last week after the retracement to the high and for this week we still look forward to shorting Gold again when we see a clear structure supporting our sell bias and also when our Value Flow Model® for Gold aligns. Also, inline with our expected long of the USD for the week, we further see supporting bias for Gold sell.
Make sure you trade cautiously and also use proper risk management for your trades.
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Cheers and have a profitable week!
VFT Team
