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We have a pretty busy forex week ahead of us with a few FOMC voting members taking center stage and Trump conducting his first presser since getting elected in November. Make sure you prepare your dollar-related charts!

1-Hour Charts of the Majors

Purple Line: weekly open prices (WO)
Blue Line: weekly highs and lows (PWH, PWL)
Red Line: top and bottom weekly ATRs (tWATR, bWATR)
Blue MA: 100 SMA
Red MA: 200 SMA

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

WO

PWH

PWL

tWATR

bWATR

1.0531

1.0623

1.0340

1.0623

1.0436

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

WO

PWH

PWL

tWATR

bWATR

1.2251

1.2432

1.2200

1.2381

1.2121

USD/JPY 1-hour Forex Chart
USD/JPY 1-hour Forex Chart

WO

PWH

PWL

tWATR

bWATR

117.10

118.60

115.07

118.29

115.91

USD/CHF 1-hour Forex Chart
USD/CHF 1-hour Forex Chart

WO

PWH

PWL

tWATR

bWATR

1.0174

1.0336

1.0087

1.0261

1.0086

Potential Catalysts:

1. FOMC member speeches – We’ve already heard from non-voting members Lockhart and Rosengren earlier this week, but on Thursday we’ll hear from incoming VOTING members Charles Evans and Patrick Harker. Evans is a known hawk and, based on Lockhart and Rosengren’s statements, it looks like the team is committed to defending its plan to raise rates this year. Watch the dollar closely for possible upside reactions!

2. Brexit updates – The pound started the week with weekend gaps thanks to U.K. Prime Minister Theresa May hinting that she might not fight very hard to keep the U.K.’s access to the EU’s single market. With May’s March deadline only weeks away, we’ll likely to see more Brexit-related headlines affect the price action of the pound or even the overall risk sentiment.

3. Trump’s presser – As Jimmy Fallon reminds us, we only have a bit more than 10 days to go before Trump takes the highest office in the U.S. This week promises to be a pretty eventful one for the incoming administration with at least 9 of his Cabinet nominees beginning their Senate hearings and the Donald himself conducting a presser tomorrow. No deets yet on what he’ll talk about, though we’ll likely hear more on his plans to distance himself from its businesses while in the office. Stick around for possible volatility in the markets!

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:
Here’s my Q3 2016 Trade Review and Reflections
Read the 5 lessons I’ve learned in 2015

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.