MARKET COLOR FOR THE WEEK 14TH OCTOBER 2024
Oct 13, 2024 11:43 pm
Hello ,
Happy New Week!
I hope your trading last week went well and you weren't swayed by the CPI release.
Remember: “Discipline is one of the key attributes of a profitable trader. Always exercise it in every phase of the market and at every trading moment.”
Here’s our analysis for the week ahead at Value Flow Trading:
USD: The dollar was bullish last week but lacked full momentum, even after the CPI data release, leading to sell-offs in other dollar-correlated pairs.
Looking ahead, we expect a pullback in the dollar, signaling LONG opportunities on pairs like GBPUSD and EURUSD. Check the chart below for more details.
JPY: The Yen traded in a range last week, not yet reaching our Point of Interest (POI), which kept other Yen-correlated pairs range-bound as well.
For this week, we anticipate further sell-off before the Yen resumes its bullish trend, indicating SELL opportunities on Yen pairs. See the chart below for the complete outlook.
GOLD: The Precious metal remained range-bound last week due to the lack of strong dollar buying momentum, but its overall trend remains bullish as it continues to be the preferred safe-haven asset.
We expect a slight pullback before the bullish trend continues, especially as our Value Flow Models® align. Be sure to review the chart below for a detailed analysis.
Remember to always trade cautiously and implement proper risk management strategies.
Wishing you a profitable trading week ahead!
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Cheers!
VFT Team