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Another week, another chance to trade the major dollar pairs! What are the possible catalysts and chart setups that we can trade? Here are my lists!

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

1.0790

1.0830

1.0620

1.0887

1.0693

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

WO

PWH

PWL

tWATR

bWATR

1.2486

1.2707

1.2412

1.2631

1.2342

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

WO

PWH

PWL

tWATR

bWATR

112.48

114.96

112.06

113.86

111.11

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

WO

PWH

PWL

tWATR

bWATR

0.9916

1.0046

0.9861

0.9998

0.9835

Potential Catalysts:

1. Trump-related updates – Another week, another chance to trade the new POTUS’ thoughts and actions! Apparently, market players are having a difficult time deciding between trading the “Trump Euphoria” or the “Donald Doubt.” Over the next couple of days, make sure you keep your eyes open for any announcement by the Donald and how it might affect the dollar’s long-term prospects!

2. Political tension in Europe – Don’t central banks just love it when the spotlights are turned away from them again? Anyway, France’s Marine Le Pen just said the F-word (I mean Frexit) after she officially announced her Presidential campaign. If Le Pen wins and follows through with her campaign promises, then the monetary union might just lose its second largest economy. Duhn duhn duhn duhn.

promising to take France out of the euro and to limit immigration. If Le Pen wins and follows through with her campaign promise, then the monetary region will lose its second largest economy. Yipes!

3. Second tier reports – There aren’t a lot of tier 1 reports on tap this week, so it looks like risk sentiment will take center stage. However, there are a couple of reports, such as Germany’s factory orders, the U.K.’s manufacturing production, and Uncle Sam’s preliminary UoM consumer sentiment survey that could move the major currencies by a pip or two (or fifty) during their releases. Make sure you keep your eyes glued to the tube when they come out!

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.