MARKET COLOR FOR THE WEEK 9TH SEPTEMBER 2024

Sep 08, 2024 6:00 am

Hello ,


Happy New Week!


How was your trading last week? I hope you made the most of our daily Market Color analysis and trade calls.

Remember, "Opportunities in trading appear all the time, but you can only seize the ones you're prepared for."



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


USD: Last week, the dollar turned bearish contrary to our bullish analysis. However, after the release of the NFP data, the dollar regained strength, leading to a sell-off in its correlated pairs.


Looking ahead this week, we anticipate further buying of the dollar into the two daily order blocks, as illustrated in the chart below. This suggests SHORT positions on correlated pairs like GBPUSD and EURUSD.


image


JPY: Last week, the Yen broke out of its three-week range to the upside, moving towards this year’s high.


This week, we expect more bullish momentum for the Yen, indicating SELL opportunities on Yen-correlated pairs, as shown in the chart.


image


GOLD: The Gold Spot was bearish last week, especially after the NFP data was released. Pre-NFP, our analysis predicted a liquidity grab around the all-time high, followed by a sell-off.


Moving forward, we expect the Gold Spot to continue its downward move into the daily order block, especially as our Value Flow Models® align.


image


Remember to always trade cautiously and implement proper risk management strategies.

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Wishing you a profitable trading week ahead!

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Cheers!


VFT Team

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