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Can you believe we’re into the last full trading week of the month? Here are potential inflection points and catalysts that might affect the major dollar pairs!

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

1.0702

1.0686

1.0720

1.0579

1.0602

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

WO

PWH

PWL

tWATR

bWATR

1.2376

1.2417

1.1987

1.2523

1.2230

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

WO

PWH

PWL

tWATR

bWATR

141.48

115.63

112.57

115.69

112.97

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

WO

PWH

PWL

tWATR

bWATR

1.0016

1.0138

0.9996

1.0102

0.9930

Potential Catalysts:

1. Trump-related updates – Now that Trump is POTUS, market players will closely monitor exactly what “America First” means for his administration. Hints of protectionism could weigh on the dollar (and overall risk appetite) while emphasis on tax breaks and fiscal stimulus could push the Greenback higher.

2. U.K. Supreme Court ruling – Tomorrow at 10:30 am GMT we will know if the U.K. needs the Parliament’s approval before officially triggering Article 50 of the Treaty of the European Union. A vote for the notion would present additional roadblocks for Theresa May, which won’t be good for the pound. Watch this one closely, friends!

3. U.S. and U.K. quarterly GDP releases – On Thursday at 10:30 am GMT the U.K. will publish its GDP numbers for Q4 2016. Analysts are expecting a dip from 0.6% to 0.5% thanks to higher inflation and a stronger Sterling. Meanwhile, Uncle Sam’s is expected to print a 2.1% growth in Q4 2016 GDP, waaay lower than Q3 2016’s 3.5% growth. Tier 1 releases like these tend to have significant impact on their respective currencies, so make sure you don’t miss them!

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:
Latest Weekly Trading Prep
My Q4 2016 Forex Trade Review and Reflections
HLHB System’s 2016 Performance Summary
Read the risk disclosure!

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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.