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A pretty busy week ahead for the major dollar pairs! Here are the inflection points you need to watch out for, as well as potential catalysts that might affect forex price action!

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

1.0740

1.0783

1.0600

1.0836

1.0631

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

WO

PWH

PWL

tWATR

bWATR

1.2379

1.2405

1.2108

1.2506

1.2253

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

WO

PWH

PWL

tWATR

bWATR

112.64

115.20

112.57

114.09

111.22

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

WO

PWH

PWL

tWATR

bWATR

0.9978

1.0117

0.9942

1.0055

0.9885

Potential Catalysts:

1. France’s first Presidential debate – Tonight in France the top 5 Presidential candidates will duke it out for the first time since the race started. Attention will be on Emmanuel Macron, who’s currently leading in the polls and far-right leader Marine Le Pen, who is expected to follow the Donald’s footsteps and pull off an upset win in May. Make sure you stay glued to the tube in case we see volatility among the major EUR pairs!

2. U.K.’s top-tier reports – As if the threat of formally triggering Brexit isn’t enough, the U.K. will also print its inflation numbers tomorrow and its retail sales figures on Thursday. Since the BOE is closely watching inflation and consumer spending numbers, you can bet your next pips that market players will be watching these reports, too!

3. FOMC member speeches – The Fed might have raised its rates as expected, but FOMC members might have more to say this week. Evans will fire the first salvo with a speech today, followed by Dudley tomorrow, and Kashkari, Kaplan, and none other than Janet Yellen on Thursday. Will they reiterate their hawkish biases? Or will they pull back and hint at a more moderate pace for tightening?

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

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.