MARKET COLOR FOR THE WEEK 19TH FEBRUARY 2024
Feb 18, 2024 7:01 pm
Hi ,
Happy New Week!
How was your trading performance last week?
Here at Value Flow Trading, it was indeed a profitable week as we and our trading community smiled at the credit alerts from our broker, OCTA.
Would you also like to join us in smiling at our broker this coming weekend?
Then Follow the simple steps below:
- Click on the link below to create your trading account with OctaFX:
https://my.octafx.com/open-account/?refid=ib38068369
- Fund your account with at least $100.
- Send us proof that you've completed steps one and two by sending a screenshot of your account registration and MT4 balance to us on Telegram by clicking the button below.
- A link will be sent to you to join our active traders community, where we provide you with trade calls from our profitable traders here at the trading floor.
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 is our analysis for this week:
USD: Last week, the dollar was bullish and headed straight into our Point of Interest (POI) where it began its bearish move on Wednesday.
Going forward this week, we anticipate the dollar to be short as it has already achieved its weekly objective. This implies long positions on its correlated pairs (GBPUSD, EURUSD) as illustrated in the chart below.
JPY: Last week, the Yen was bearish against our analysis, targeting the all-time low as a result of the recession in Japan.
Going forward this week, we anticipate a pullback of the Yen, then continuation of the bearish move to tap into the all-time low, suggesting that Yen-correlated pairs might be bearish as a result of the pullback, then continue their bullish move.
GOLD: Last week, the Gold Spot was bearish as analyzed, selling into the daily order block with a confluence on the 4-hour time frame, where it began to rally.
Going forward this week, we anticipate the Gold Spot to pull back into the POI marked in the chart below, where we are looking to long the Gold Spot again for the week as soon as our Value Flow Modelsยฎ align.
Remember to trade cautiously and use proper risk management strategies
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Wishing you a profitable trading week ahead!
VFT Team