MARKET COLOR FOR THE WEEK 8TH APRIL 2024
Apr 07, 2024 6:00 pm
Hi ,
Happy New week!
How was your trading performance last week? It was a profitable week here at the Value Flow Trading floor, with our TDA Plus community enjoying their weekly withdrawal.
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's our analysis for the week at Value Flow Trading:
USD: Last week, the dollar was bearish as analyzed and later became bullish after the NFP, of which it continued its bearish trend a few minutes after the news.
Looking ahead this week, we anticipate the continuation of the dollar's bearish trend as illustrated in the chart below. This suggests a long position on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen was bearish, which is more of a pullback for the Yen after we saw the market structure shift on the 4-hour timeframe two weeks ago.
This week, we anticipate a bullish Yen, suggesting that Yen-correlated pairs might be bearish.
GOLD: Last week, the Gold Spot remained heavily bullish, continuing its price discovery phase by creating a new high around the 2330.525 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 Modelsยฎ.
As always, trade cautiously and implement proper risk management strategies as we expect CPI and some other news events this week.
Wishing you a successful and profitable month ahead!
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Cheers!
VFT Team