MARKET COLOR FOR THE WEEK 8TH OCTOBER 2023

Oct 09, 2023 4:01 pm

Hi ,


Happy new week!



Remember, "In trading, you are your greatest asset and your worst enemy. Therefore use this last quarter to work on your self-discipline and self-control in the market."



Here at Value Flow Trading, this is our analysis for the week:


USD: Last week, we saw the dollar rally to clear the buy side liquidity as expected, then remains bearish for the remaining days of the week.


Going forward this week, we expect the dollar to short into the FVG and order-block around 150.500 as analyzed in the chart below. Therefore, we look forward to shorting the dollar for the week, which implies longing its correlated pairs (GBPUSD, EURUSD) when we see a structure for the dollar short, as illustrated in the markup below.


image



JPY: Last week, we saw the YEN BULLISH as predicted as it clears the buy side liquidity and later pull back into the range on Friday.


This week, we still expect a bullish YEN, as illustrated in the chart below, to clear more of the buy-side liquidity, which implies that YEN correlated pairs may be bearish. However, the overall trend for the yen is still a downtrend.



image


GOLD: Last week, we saw the Gold spot continue its downtrend till Friday when it started its rally after NFP on Friday


Moving forward this week, we expect the Gold spot to rally back to the daily breaker block.

Therefore, this week we are looking to LONG the Gold Spot as soon as our Value Flow Modelsยฎ align.


image


Make sure you trade cautiously and stick to your risk management plan as we expect PPI and CPI this week.


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Cheers and have a profitable week


VFT Team

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