MARKET COLOR FOR THE WEEK 29TH JULY 2024

Jul 28, 2024 10:00 pm

Hello ,


Happy New Week!


How was your trading last week? It was a profitable week here at Value Flow Trading, as we finally saw the long-awaited buy on the Yen basket begin.


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's our analysis for the week ahead:


USD: Last week, the dollar was bearish with low momentum as the market remained quiet, anticipating major news coming out this week.


Moving forward, we expect the dollar to continue its bullish move as there have been many speculations about the FED cutting the interest rates.


Therefore, we are likely to see a LONG on the dollar before the release of the interest rate decision, after which we may see the dollar sell off.

This suggests initially taking short positions on its correlated pairs (GBPUSD, EURUSD), then a LONG, as illustrated in the markup below.


image


JPY: Last week, the Yen continued its bullish trend with strong momentum to the upside, causing its correlated pairs to continue their sell-off.


This week, we anticipate a few pullbacks on the Yen before it continues its bullish move to the upside, suggesting that Yen-correlated pairs might be bearish, as illustrated in the chart below.


image


GOLD: Last week, the precious metal was bearish as anticipated, with strong momentum to the downside.


Moving ahead this week, we anticipate more sell-offs of the precious metal, particularly as soon as our Value Flow Modelsยฎ align.


image


Remember to trade cautiously and stick to your risk management plan as we expect two major bank rate releases this week.

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Wishing you a profitable trading week ahead!


Cheers

VFT Team

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