This Is Where The Market Is Heading!
May 08, 2023 3:07 pm
Hello ,
Happy New Week and hope you are prepared for a profitable week.
Here at Value Flow Trading, the market was not giving a clear direction during the London session but we see a some level of clarity at the opening of the New York session. Thus our sentiment for this week is as follows:
USD: last week we saw a bearish dollar, still within the range. However dollar is still in a discount with more buy side liquidity. This week on the floor we look forward to longing the dollar.
This implies we would be shorting Foreign currency pairs such as GBPUSD, EURUSD and other correlated pairs this week
JPY: last week we saw a retracement on the YEN as predicted. Overall, Yen is bearish. So we expect YEN to clear the low of last week and this implies that we would be long all YEN correlated pairs such as USDJPY, GBPJPY and EURJPY.
GOLD: Last week we saw Gold spot played as analyzed. How it rally to the 2068 level and short back into the range.
This week, we still look forward to shorting Gold again when we see a clear structure supporting our sell bias, and also when our Value Flow Model® for Gold aligns. In addition, inline with our expected long of the USD for the week, we further see supporting bias for Gold sell.
Make sure you trade cautiously and also use proper risk management for your trades as this week is full of many high impact news.
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Cheers and have a profitable week!
VFT Team
