MARKET COLOR FOR THE WEEK 8TH JULY 2024

Jul 07, 2024 10:00 pm

Hello ,


Happy New Week!


How was your trading last week? Hope the NFP news didn’t wipe out your account last Friday.


Remember, "As a trader, you are not defined by your wins or losses but by your ability to adapt. Embrace change, learn from experiences, and let your resilience be your legacy."


Here's our analysis at Value Flow Trading for this week:


USD: Last week, the dollar was bearish against our bullish prediction, even after the release of the NFP news.

However, moving forward this week, we expect more selling of the dollar before it begins its bullish move. This implies initially long positions, then short positions on its correlated pairs (GBPUSD, EURUSD), as illustrated in the markup below.


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JPY: Last week was bearish for the Yen, although we saw some buying activity on Thursday and Friday.


In this second half of the year, we still anticipate a Yen pullback after this extended period of selling.


Therefore, this week, we anticipate a pullback of the Yen, suggesting that Yen-correlated pairs might be bearish.


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GOLD: Last week, the precious metal was heavily bullish, which aligned with the dollar's movement.

Moving ahead this week, we anticipate a few sell-offs of the precious metal, particularly as soon as our Value Flow Models® align.


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Remember to trade cautiously and stick to your risk management plan, especially with some high-impact news expected this week.

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Wishing you a profitable trading week ahead!


VFT Team


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