MARKET COLOR FOR THE WEEK 15TH JULY 2024

Jul 14, 2024 9:35 pm

Hello ,


Happy New Week!


How was your trading last week? Hope the CPI news didn’t wipe out your account last week


Remember, ''The markets may fluctuate, but your dedication should remain constant. Trade with passion, adapt with wisdom, and let your consistency be your hallmark."


Here's our analysis at Value Flow Trading for this week:


USD: Last week, the dollar was bearish against our bullish prediction, even after the release of the CPI data.


However, moving forward this week, we expect more selling of the dollar before it begins its bullish move. This implies initially long positions, then short positions on its correlated pairs (GBPUSD, EURUSD), as illustrated in the markup below.


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JPY: Last week the YEN was bullish as anticipated, We saw the buy momentum for the pull back but couldn't reach our POI.


Therefore, this week, we anticipate more of the pullback of the Yen as illustrated in the chart below, suggesting that Yen-correlated pairs might be bearish.


image


GOLD: Last week, the precious metal was heavily bullish, which aligned with the dollar's movement.

Moving ahead this week, we anticipate a few sell-offs of the precious metal, particularly as soon as our Value Flow Models® align.


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Remember to trade cautiously and stick to your risk management plan.

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Wishing

you a profitable trading week ahead!


VFT Team

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