Partner Center Find a Broker

Ready for another week catching pips? Here are potential inflation points and catalysts that might affect the dollar’s price action in the next couple of days!

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

1.0931

1.1019

1.0839

1.1013

1.0850

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

WO

PWH

PWL

tWATR

bWATR

1.2884

1.2990

1.2844

1.2993

1.2776

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

WO

PWH

PWL

tWATR

bWATR

113.17

114.37

112.39

114.25

112.10

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

WO

PWH

PWL

tWATR

bWATR

1.1001

1.0100

1.0011

1.0069

0.9934

Potential Catalysts:

1. Top-tier U.K. reports – This week we’ll see at least FOUR possible catalysts scheduled from the U.K. I’m talking about Theresa May’s speech today, the inflation report tomorrow at 8:30 am GMT, employment numbers on Wednesday around the same time, and the retail sales report on Thursday. Make sure you stick around so you catch potential volatility spikes!

2. OPEC updates – The plot thickens for the Black Crack now that Saudi Arabia and Russia have pinky sworn to extend their production cut plans to March 20178. Question is, will it be enough to cause sustained rallies for oil prices?

3. Fed rate hike speculations – With only a few weeks to go before the next FOMC statement, market players will pay close (closer) attention to U.S. reports and central banker speeches coming our way to see if Yellen and her team will raise their rates as many are expecting. How about you? Do you think the Fed will raise its rates in June?

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.