MARKET COLOR FOR THE WEEK 17TH JUNE 2024
Jun 17, 2024 9:08 am
Hello ,
Happy New Week and Barka De Sallah!
How was your trading last week? We hope you made the most of the CPI data release. It was a great week here at Value Flow Trading and for our community of students.
Remember, "The financial markets are a canvas, and you are the artist. Paint your path with strategic moves, calculated risks, and the colors of success."
Here's our analysis for the week ahead at Value Flow Trading:
USD: Last week, the dollar was bullish as analyzed, even upon its weakness after the release of the CPI data.
Looking ahead this week, we anticipate a pullback followed by the continuation of the bullish dollar into the weekly shoulder level, as illustrated in the chart below. This suggests taking long positions initially, then shifting to short positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen was bearish against our bullish analysis, clearing liquidity levels on Friday and beginning its rally.
This week, we still anticipate the continuation of the Yen rally, as illustrated in the chart below, indicating potential bearishness for Yen-correlated pairs.
GOLD: Last week, the Gold Spot was bullish as expected, with a pullback anticipated before further selling.
Moving forward this week, we expect the Gold Spot to pull back into the daily shoulder with the confluence of the daily order block and then sell further, particularly when our Value Flow Modelsยฎ align.
Remember to always trade cautiously and implement proper risk management strategies as we expect national bank interest rate announcements this week.
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Kindly note that due to the Id el-Kabir break, our daily Market Color will resume on Wednesday instead of tomorrow, Monday.
Wishing you a successful and profitable week ahead!
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Cheers,
VFT Team