MARKET COLOR FOR THE WEEK 2ND SEPTEMBER 2024
Sep 01, 2024 8:52 pm
Hello ,
Happy New Month!
Welcome to September.
This is the month where you should never leave anything to chance while trading. Make the very best use of every opportunity you see in the market to your advantage.
Remember, "Success in trading is the sum of small efforts repeated day in and day out. Make each trading day count this month."
Here's our analysis for the week ahead at Value Flow Trading:
USD: Last week, the dollar was bullish as analyzed but didn’t reach our POI, which was around the 102.500 level.
Looking ahead this week, we still anticipate more buying of the dollar to clear the 102.500 level and trade into the daily order block before pulling back to continue its BUY, as illustrated in the chart below.
This suggests SHORT positions on its correlated pairs (GBPUSD, EURUSD).
JPY: Last week, the Yen kept ranging and couldn't pick any direction against our bullish analysis, which in turn kept all its correlated assets in a range.
This week, we anticipate more pullback of the Yen to the 50% FIB level before it continues its bullish move, as illustrated in the chart below. This indicates potential buys for Yen-correlated pairs, followed by a continuation of the sell.
GOLD: Last week, the Gold Spot was bearish but with low momentum, which couldn’t clear the all-time high as analyzed.
Moving forward this week, we expect the Gold Spot to sell after creating the high of the week, as we anticipate the dollar to go long, particularly when our Value Flow Models® align.
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