Are you ready for another week of trading? Here are potential inflection points and event catalysts for the major dollar pairs!
Weekly Inflection Points to Watch
|Last Week’s High||1.0691||1.2715||114.84||1.0206|
|Last Week’s Low||1.0552||1.2387||111.36||1.0072|
|Top Weekly ATR||1.0719||1.2839||114.71||1.0193|
|Bottom Weekly ATR||1.0531||1.2511||111.88||1.0029|
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
3 Potential Catalysts:
1. Central bank announcements – This week the RBA, BOC, and ECB will publish their last monetary policy decisions for the year. Though market players aren’t expecting changes from these hotshots, it’s important to note any change in their biases especially in light of recent political developments *cough* Trump *cough*.
2. Geopolitical risks – So Italy’s Renzi and New Zealand’s Key are out. And that’s just from today! How will market players react to uncertainty in the euro zone and maybe New Zealand? Will they become catalysts for potential profit-taking from long dollar trades? Watch out for potential shifts in risk sentiment!
3. Post-OPEC meeting reactions – After weeks of speculations, OPEC members have finally shaken hands over a deal. The question is, are their plans enough to address the teeny tiny issue of global oil oversupply? I guess we’ll know in the next couple of days if the markets are convinced of the deal’s long-term impact!
That’s it for the pre-week trading prep this week! How about you? Are you looking at anything interesting for possible trade opportunities?
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!
These are some of our favorite trading books, and BabyPips.com receives a small credit from any purchases through the Amazon links above to help support the free content and features of our site…enjoy!
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.