MARKET COLOR FOR THE WEEK 29TH JANUARY 2024
Jan 28, 2024 7:00 pm
Hi ,
It's a New Week!
Hope last week was profitable for you, as it was for us here at Value Flow Trading.
Remember, "In the financial markets, timing is everything. Seize the moment, trust your instincts, and let your precision in execution be your competitive advantage."
Here at Value Flow Trading, this is our analysis for the week:
USD: Last week, the dollar began to range again after breaking out of the former range two weeks ago. This kept all the dollar-correlated pairs within the range.
Going forward this week, we anticipate the interest rate release from the Federal Reserve. This rate determines the next direction the dollar will be heading. However, we still expect the dollar to rally before the release of the news, as illustrated in the chart below. This implies short positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, we saw the Yen rally for the first three days of the week, then pull back into the range upon the release of their bank rate. This caused the correlated pairs to rally on Thursday.
Going forward this week, we still anticipate a bullish Yen, as shown in the chart below, suggesting that Yen-correlated pairs might be bearish.
GOLD: Last week, the Gold Spot was also in a range as a result of the range we saw on the dollar. However, the Gold Spot's overall trend still remains bullish.
Going forward this week, we anticipate the Gold Spot to move to the daily order block, where we are looking to short the Gold Spot again for the week as soon as our Value Flow Modelsยฎ align.
Remember to trade cautiously and use your proper risk management strategy, as we expect some major market-moving news such as FOMC and NFP.
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Wishing you a profitable trading week ahead!
VFT Team