MARKET COLOR FOR THE WEEK 3RD JULY 2023

Jul 03, 2023 8:03 am

Hello ,

Happy New Month!

It's the beginning of the second half of the year, hope your trading goal is still intact?

Remember, "Trading is a marathon, not a sprint. Stay focused on the long-term goals, maintain a steady pace, and remember that consistency and perseverance are the keys to achieving lasting success."

We believe in you and your journey to financial freedom.

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

USD: last week we saw a bullish dollar as predicted in our weekly analysis and how it's correlated pairs were selling such as NZDUSD. This week our bias for the dollar still remain the same. which means we expect the continuation of the dollar rally. However, our bullish bias is not very high probability, there could be a bearish move on the USD.

Therefore, this week on the floor we look forward to longing the dollar, which implies we would be shorting foreign currency pairs such as GBPUSD, EURUSD and other dollar pairs.

JPY: last week we also saw a further sell-off on the YEN, which is a continuation of its bearish trend since it breaks its all time low of 4 years.

However this week, we may see a brief retracement, which implies that YEN correlated pairs may be bearish. However, the overall trend for the yen is still a down-trend.

GOLD: Last week we saw a further sell of the Gold spot, then a brief retracement on Thursday through Friday.

However, this week we still expect to short Gold as we expect the continuation of the dollar rally (mid level probability).

Therefore, we look forward to ride the bearish trend whenever we see a clear structure supporting our sell bias, and also when our Value Flow Model® for Gold aligns.

Make sure you trade cautiously and stick to your risk management plan as we expect some high impact news like PMI, NFP and others this week.

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