Weekly Trading Prep: September 5 – 9, 2016

Looks like we’re in for a pretty interesting week for the major pairs! Here are the forex charts and catalysts that I’m looking at for the next couple of days.

Weekly Inflection Points to Watch

EUR/USD

GBP/USD

USD/JPY

USD/CHF

Open Price 1.1158 1.3299 104.13 0.9808
Last Week’s High 1.1253 1.3354 104.34 0.9886
Last Week’s Low 1.1123 1.3060 101.76 0.9739
Top Weekly ATR 1.1249 1.3477 105.41 0.9888
Bottom Weekly ATR 1.1068 1.3121 102.85 0.9728

1-Hour Charts of the Majors

Purple Line: weekly open prices
Blue Line: weekly highs and lows
Red Line: top and bottom weekly ATRs
Blue MA: 100 SMA
Red MA: 200 SMA

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

USD/JPY 1-hour Forex Chart

USD/JPY 1-hour Forex Chart

USD/CHF 1-hour Forex Chart

USD/CHF 1-hour Forex Chart

3 Potential Catalysts:

1. Fed rate hike speculations – Now that the August NFP is out and about, forex market players are betting their pips on whether or not the Fed is likely to raise its rates this month. Watch out for speeches and news tidbits that could push the dollar in either direction!

2. Central banker speeches – Now that some traders are all but giving up on a September Fed rate hike, their eyes will be on the RBA, BOC, and SNB’s Thomas Jordan this week for hints of their monetary policy biases. Will their remarks serve to highlight the idea that the Fed is the only hawkish central bank in the bunch?

3. Deja vu for this month’s oil summit? – The highly-anticipated meeting between the major oil producers is only a few days away and you can bet your pips that there won’t be any shortage of speculations. Will we see a deja vu of the last OPEC meeting where nothing happened? Or will we actually see concrete plans and agreements this time around?

That’s it for the pre-week trading prep this week! How about you? Are you looking at anything interesting for possible trade opportunities?

Huck's Signature

P.S.: Remember to never risk more than 1% of a trading account on any single trade and to adjust position sizes accordingly. Create your own ideas and don’t follow what I do. Better yet, read the Risk Disclosure!

See also:

2014 HLHB Trend-Catcher Performance