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Can you believe we’re already into the last trading week of Q1 2017? Here are the chart levels you need to watch, as well as the potential market-movers we should watch out for.

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

1.0833

1.0825

1.0718

1.0927

1.0739

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

WO

PWH

PWL

tWATR

bWATR

1.2492

1.2531

1.2335

1.2612

1.2365

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

WO

PWH

PWL

tWATR

bWATR

110.92

112.90

110.62

112.22

109.50

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

WO

PWH

PWL

tWATR

bWATR

0.9892

1.0003

0.9804

0.9962

0.9885

Potential Catalysts:

1. What’s next for Trump? – Now that the Republicans have shelved their “repeal and replace” bill for Obamacare, market players will want to know what Trump is planning next. Will he shift his focus on taxes as he has implied? And if he does, will he encounter as much resistance as he had with the healthcare bill? Any uncertainty over the much-awaited tax reform will likely continue to weigh on the dollar across the board.

2. Article 50 trigger – Last week British PM Theresa May told her Cabinet that she intends to send the Article 50 letter to the EU on Wednesday, March 29, 2017. All eyes will be on the event to see if traders will be as bearish over the formal Brexit trigger as they were after Britain voted out of the EU or if it will inspire widespread profit-taking and boost the pound higher.

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.