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Another trading quarter, another chance to make some pips! For traders of the major dollar pairs, here are chart levels and potential catalysts that we need to 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

1.0667

1.0906

1.0665

1.0758

1.0576

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

WO

PWH

PWL

tWATR

bWATR

1.2545

1.2616

1.2378

1.2666

1.2425

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

WO

PWH

PWL

tWATR

bWATR

111.43

112.20

110.11

112.62

110.24

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

WO

PWH

PWL

tWATR

bWATR

1.0024

1.0025

0.9804

1.0099

0.9813

Potential Catalysts:

1. NFP report – What’s NFP week without the NFP report, right? Analysts are expecting payrolls to dip from 235K to 176K while hourly earnings is expected to retain its 0.2% growth and the unemployment rate is expected to remain at 4.7%. Read Forex Gump’s trading guide later in the week if you’re planning on trading the event!

2. FOMC meeting minutes – The reason why the NFP report is such a big deal is because it can provide clues on how hawkish the Fed would be in its next statement. However, the FOMC meeting minutes due on Wednesday at 6:00 pm GMT can get the ball rolling for the dollar if it contains hints on the Fed’s pace of rate hikes. Will the Greenback regain its losses from last week? Or will the meeting minutes remind traders of why they sold the scrilla in the first place?

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!

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.