MARKET COLOR FOR THE WEEK 24TH FEBRUARY 2024
Mar 03, 2024 8:35 pm
Hi ,
Happy New Month!
I hope February was a profitable month for you!
As we enter into March, it's essential to reflect on our trading performance and adapt accordingly. Remember, resilience and adaptability are key traits for success in trading.
Here's our analysis for the week at Value Flow Trading:
USD: Last week, the dollar was ranging, showing indecision in the market.
Looking ahead, we anticipate further pullback of the dollar into the 104.500 level before it resumes its bearish trend. This suggests short positions on its correlated pairs (GBPUSD, EURUSD) followed by a long position as the bearish trend continues.
JPY: Last week, the Yen was bullish, pulling back into the expected Point of Interest (POI) on Thursday before initiating its sell-off.
This week, we anticipate a bullish Yen, indicating that Yen-correlated pairs might be bearish.
GOLD: Last week, the Gold Spot demonstrated strong bullish momentum until the close of the market on Friday.
In the upcoming week, we expect the Gold Spot to experience a slight pullback before continuing its rally, aligning with our Value Flow Modelsยฎ.
As always, trade cautiously and implement proper risk management strategies, especially considering potential market-moving news events (NFP) expected this week.
Wishing you a successful and profitable week ahead!
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Wishing you a profitable trading month ahead!
VFT Team