MARKET COLOR FOR THE WEEK 5TH AUGUST 2024

Aug 04, 2024 9:59 pm

Hi ,


Happy New Month and Happy New Week!


Hope last week was profitable for you, as it was a defining moment in the financial market.


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 at Value Flow Trading, this is our analysis for the week:


USD: Last week, the dollar was bearish after the release of the interest rate as it was not the preferred safe haven asset.


Going forward this week, we anticipate a slight pullback of the dollar, then the continuation of its sell-off, which implies short positions on its correlated pairs (GBPUSD, EURUSD). We will then look for long positions when a structure for a dollar short is confirmed, as illustrated in the markup below.


image


JPY: Last week, the Yen continued its rally with full momentum as it is now the most preferred safe haven after a long sell-off.


Going forward this week, we anticipate a more bullish trend for the Yen, as shown in the chart below, suggesting that Yen-correlated pairs might be bearish.


image


GOLD: Last week, the Gold Spot was bullish but couldn't clear its all-time high even after the release of FOMC.


Going forward this week, we are anticipating the Gold Spot to SELL into the daily order block where we are looking to long the Gold Spot again before selling, as soon as our Value Flow Modelsยฎ align.


image


Remember to trade cautiously and stick to your proper risk management strategy as we expect some high-impact news this week.


Wishing you a profitable trading week ahead!


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Wishing you a profitable trading week ahead!


VFT Team

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