MARKET COLOR FOR THE WEEK 27TH MAY 2024
May 26, 2024 7:30 pm
Hello ,
Happy New Week!
Hope last week was a profitable one for you?
Remember, "Trading is not just about making money; it's about mastering the art of decision-making. Sharpen your skills, stay informed, and let your expertise shine."
Here's our analysis for the week ahead at Value Flow Trading:
USD: Last week, the dollar was bullish as analyzed, but not with the full momentum we expected. However, we saw the correlation on the USD pairs, how they sold off.
Looking ahead this week, we still anticipate a bullish dollar, as illustrated in the chart below. This suggests taking short positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen continued its bearishness as it further slid down. After further refinement of the Yen basket, we may still see the Yen basket sell further into a 15-minute IOFED, which is our POI, before the buy starts.
This week, we anticipate a rally of the Yen from our POI, as illustrated in the chart below, indicating potential bearishness for Yen-correlated pairs.
GOLD: Last week, the Gold Spot was bearish as analyzed after clearing the all-time high at the market open on Monday and creating a new high. However, since last Tuesday, the precious metal has been selling, creating a micro sell structure.
Moving forward this week, we expect the Gold Spot to pull back into the 4-hour order block and then sell further as marked in the chart below, particularly when our Value Flow Modelsยฎ align.
Remember to always trade cautiously and implement proper risk management strategies.
---------------------------
IT'S FOUR (4) DAYS TO THE TRADERS BOOTCAMP
, We are just 4 days away from the TRADERS BOOTCAMP happening live in the city of Abuja. Have you registered yet?
Register using the link below and invite someone to stand a chance of winning some precious gifts at the event.
Attendance is FREE, but registration is COMPULSORY.
Wishing you a successful and profitable week ahead!
---------------------------
Cheers!
VFT Team