MARKET COLOR FOR THE WEEK 13TH NOVEMBER 2023

Nov 13, 2023 4:01 am

Hi ,


Happy New Week!


How was your trading performance last week? I hope it was profitable.


Remember, "The financial markets are a canvas, and you are the artist. Paint your path with strategic moves, calculated risks, and the colors of success."


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


USD: Last week, the dollar remained bullish, sustaining its upward momentum throughout the week with modest strength.


Going forward this week, we anticipate a bearish trend for the dollar due to the decreased momentum from the previous week and a clear break in structure. Therefore, we are considering shorting the dollar this week, implying long positions on its correlated pairs (GBPUSD, EURUSD) when a structure for a dollar short is identified, as illustrated in the markup below.


image



JPY: Last week, the Yen experienced a further decline, putting additional pressure on it after the intervention of the BOJ.


This week, we anticipate a retracement of the Yen, as shown in the chart below, suggesting that Yen-correlated pairs might be bearish. However, the overall trend for the Yen remains bearish.


image


GOLD: Last week, there was significant selling pressure on the Gold Spot, contrary to the bullish momentum on the dollar. We interpret this bearish trend as a pullback from its recent fast-paced bullish momentum a few weeks ago.


Moving forward this week, we expect the Gold Spot to resume its bullish move, as illustrated in the chart below.

image


Therefore, this week, we are considering going long on the Gold Spot as soon as our Value Flow Modelsยฎ align.


Make sure you trade cautiously and stick to your risk management plan as we expect some high impact new (CPI and PPI) this week.


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Wishing you a successful trading week ahead!


VFT Team

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