MARKET COLOR FOR THE WEEK 12TH AUGUST 2024
Aug 12, 2024 12:08 am
Hello ,
Happy New Week!
Hope last week was a profitable one for you.
Remember, "As a trader, you have the power to turn financial uncertainty into opportunity. Embrace the challenge, trust your instincts, and conquer the markets."
Here's our analysis for the week ahead at Value Flow Trading:
USD: Last week, the dollar opened bearish as analyzed and began to pull back as the week rounded up. However, the overall trend remains bearish.
Looking ahead this week, we still anticipate a bearish dollar after its pullback, as illustrated in the chart below. This suggests first LONG positions on its correlated pairs (GBPUSD, EURUSD) followed by SHORT positions.
JPY: Last week, the Yen was bearish after opening with full bullish momentum and clearing major liquidity, then began to pull back.
This week, we anticipate more pullback of the Yen before it continues its bullish move as illustrated in the chart below. This indicates potential buys for Yen-correlated pairs, followed by a continuation of the sell.
GOLD: Last week, the Gold Spot was bearish, but it is still within the higher time frame range.
Moving forward this week, we expect the Gold Spot to sell into the daily order block as marked in the chart below, particularly when our Value Flow Modelsยฎ align.
Remember to always trade cautiously and implement proper risk management strategies.
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Wishing you a profitable trading week ahead!
VFT Team