MARKET COLOR FOR THE WEEK 10TH JUNE 2024
Jun 09, 2024 9:03 pm
Hello ,
Happy New Week!
How was your trading last week? We hope you made the most of the NFP data release. It was a great week here at Value Flow Trading and for our community of students.
Remember, "In the financial markets, timing is everything. Seize the moment, trust your instincts, and let your precision in execution be your competitive advantage."
Here's our analysis for the week ahead at Value Flow Trading:
USD: Last week, the dollar was bullish overall after the release of the NFP. Monday through Friday saw a sell-off leading up to the news, and we witnessed volume injected into the dollar post-NFP release.
Looking ahead this week, we anticipate a pullback followed by the continuation of the bullish dollar, as illustrated in the chart below. This suggests taking long positions initially, then shifting to short positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen was bullish as analyzed, with a few pullbacks that still confirm our bias for the Yen.
This week, we anticipate the continuation of the Yen rally, as illustrated in the chart below, indicating potential bearishness for Yen-correlated pairs.
GOLD: Last week, the Gold Spot was bearish as analyzed. It rallied first into our daily POI and then began to sell into our target level.
Moving forward this week, we expect the Gold Spot to pull back into our marked POI and then sell further, particularly when our Value Flow Modelsยฎ align.
Remember to always trade cautiously and implement proper risk management strategies as we expect the CPI and the USA bank interest rate announcements this week.
Also, join us for our daily Market Color session as we will have a special guest joining us on Thursday, June 13th, 2024, at 8:30 am. It's going to be a special session providing deep insights into the market once again.
Wishing you a successful and profitable week ahead!
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Cheers,
VFT Team