Hi ,
Happy New Month!
It is the beginning of the first month in the second quarter.
Remember, "As a trader, a new month is a fresh canvas. Paint it with smart trades, bold decisions, and unwavering determination."
Here's our analysis for the week at Value Flow Trading:
USD: Last week, the dollar was bearish with no strong momentum to follow through, which made all its correlated pairs bullish as expected.
Looking ahead this week, we anticipate a pullback of the dollar to the upside to clear liquidity and continue its sell-off, as illustrated in the chart below. This suggests a bit of a pullback for a sell on its correlated pairs then continuing their long positions (GBPUSD, EURUSD).
JPY: Last week, the Yen was bearish but with little momentum after the market structure shift we saw on the 4-hour timeframe last week.
This week, we anticipate a bullish Yen, suggesting that Yen-correlated pairs might be bearish.
GOLD: Last week, the Gold Spot remained bullish, continuing its price discovery phase by creating a new high around the 2236.330 level.
In the upcoming week, we expect the Gold Spot to experience a slight pullback before resuming its rally, as illustrated in the chart below and aligning with our Value Flow Models®.
As always, trade cautiously and implement proper risk management strategies as we expect NFP and some other news events this week.
Wishing you a successful and profitable month ahead!
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Cheers!
VFT Team
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