MARKET COLOR FOR THE WEEK 28TH OCTOBER 2024
Oct 27, 2024 7:01 pm
Hi ,
Happy New Week! I hope last week was profitable for you.
Remember: “Profitability strengthens the passion for trading, so always aim to improve and become more profitable.”
Here’s our analysis for the week ahead at Value Flow Trading:
USD: The dollar was bullish last week, trading into the daily order block around the 103.500 zone, where it formed a box pattern suggesting a SHORT opportunity.
Looking ahead, we anticipate a pullback in the dollar, signaling LONG opportunities on pairs like GBPUSD and EURUSD. Please see the chart below for more details.
JPY: The Yen was bearish last week, moving into our Point of Interest (POI) as expected.
This week, we anticipate a further sell-off to clear liquidity below the daily order block before the Yen fully resumes its bullish trend. This provides SELL opportunities on Yen pairs, highlighted in the chart below.
GOLD: Last week, Gold reached a new all-time high around the 2758.525 level, marking the highest price ever for the precious metal. Its overall trend remains bullish, affirming its status as the preferred safe-haven asset.
This week, we expect a slight pullback before the bullish trend resumes, especially as our Value Flow Models® align. Be sure to review the chart below for a full analysis.
Remember to always trade cautiously and implement proper risk management strategies.
Wishing you a profitable trading week ahead!
--------------------------------
Cheers!
VFT Team