MARKET COLOR FOR THE WEEK 11TH DECEMBER 2023
Dec 10, 2023 9:01 pm
Hi ,
Happy New Week!
Trust you started this month profitably.
Remember, "Success in trading is not about the destination; it's about the journey of continuous improvement. Strive for excellence, evolve with the markets, and enjoy the ride."
Here at Value Flow Trading, this is our analysis for the week:
USD: Last week, we saw the dollar rally against the bearish analysis, showing strength as the NFP data favored the dollar.
Going forward this week, we anticipate a bullish dollar as it rallies to the broken support, as illustrated in the chart below. Therefore, we are considering longing the dollar this week, implying short positions on its correlated pairs (GBPUSD, EURUSD) when a structure for a dollar long is identified, as illustrated in the markup below.
JPY: Last week, the Yen was strongly bullish, breaking all expected resistance as analyzed and clearing all liquidity as expected.
This week, we anticipate a pullback for the Yen, followed by the continuation of the rally, as shown in the chart below, suggesting that Yen-correlated pairs might be bearish. However, the overall trend for the Yen is now bullish.
GOLD: Last week, the Gold Spot cleared the all-time high as expected due to the ongoing Israel-Palestine conflict. However, we saw it bearish after the rally during the Asian session immediately after the market opened on Monday.
Moving forward this week, we expect the Gold Spot to pull back to the broken support and continue its bearish move, as illustrated in the chart below.
Therefore, this week, we are looking forward to short the Gold Spot as soon as our Value Flow Models® align.
Remember to trade cautiously and stick to your risk management plan as liquidity begins to dry up in the market.
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Wishing you a successful trading month ahead!
VFT Team
