MARKET COLOR FOR THE WEEK 5TH FEBRUARY 2024

Feb 04, 2024 8:01 pm

Hi ,


Happy New Month!


How was your trading performance last month?


If it was good, keep it up; and if it was bad, make sure it doesn't affect the rest of your trading year.


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


USD: Last week, we saw the dollar remain in its range until Friday when it broke out after the release of the NFP data.


Going forward this week, we anticipate the dollar to rally, as illustrated in the chart below. This implies short positions on its correlated pairs (GBPUSD, EURUSD).


image


JPY: Last week, we saw the Yen rally as analyzed, then pull back into the range. This caused the correlated pairs to short for the week.


Going forward this week, we still anticipate a bullish Yen, as shown in the chart below, suggesting that Yen-correlated pairs might be bearish.


image



GOLD: Last week, the Gold Spot was bullish until Friday when the NFP data was released, weakening the Gold Spot.


Going forward this week, we anticipate the Gold Spot to sell into the daily order block, where we are looking to long the Gold Spot again for the week as soon as our Value Flow Modelsยฎ align.


image



Remember to trade cautiously and use your proper risk management strategy..


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Wishing you a profitable trading week ahead!


VFT Team

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