MARKET COLOR FOR THE WEEK 4TH NOVEMBER 2024

Nov 03, 2024 8:11 pm

Hi ,


Happy New Month and Happy New Week!


This month marks a historic and defining moment in the industry as the United States elections kick off this week. If you decide to trade, please do so with caution and extra vigilance.


Remember: “A disciplined trader is known for their ability to stick to trading rules, which ultimately leads to profitability.”


Here’s our analysis for the week ahead at Value Flow Trading:


USD: The dollar was bearish for the first four days last week but turned bullish on Friday, resulting in a weekly bullish bias. Price traded into a box pattern, suggesting a SHORT opportunity.


Looking ahead, we expect a pullback in the dollar, indicating LONG opportunities on pairs like GBPUSD and EURUSD. Check the chart below for further details.


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JPY: The Yen remained bearish last week, moving into our Point of Interest (POI) as predicted.


This week, we anticipate further sell-offs to clear liquidity below the daily order block before the Yen resumes its bullish trend. This presents SELL opportunities on Yen pairs, as highlighted in the chart below.


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GOLD: Gold reached another all-time high last week around the 2790.170 level, marking its highest price ever. The overall trend remains bullish, reinforcing Gold's position as the preferred safe-haven asset.


We expect a slight pullback before the bullish trend resumes, particularly as our Value Flow Models® align. Make sure to review the chart below for a comprehensive analysis.


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Trade cautiously and employ robust risk management strategies, especially with the heightened market volatility expected during the US election period.


Wishing you a profitable trading week ahead!

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Cheers!


VFT Team

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