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Not a lot of major reports on tap but we do have the NFP coming up! Here are potential catalysts and inflection points for the major dollar pairs if you’re planning on trading the Greenback!

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

1.1175

1.1269

1.1160

1.1258

1.1093

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

WO

PWH

PWL

tWATR

bWATR

1.2806

1.3043

1.2775

1.2914

1.2699

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

WO

PWH

PWL

tWATR

bWATR

111.26

112.16

110.85

112.34

110.19

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

WO

PWH

PWL

tWATR

bWATR

0.9749

0.9777

0.9691

0.9820

0.9679

Potential Catalysts:

1. NFP report – What’s an NFP week without the NFP report, right? With not a lot of major catalysts on the docket, make sure you’re on the lookout for possible positioning/profit-taking ahead of the big event. Word around the hood is that a lot of analysts are looking at the NFP numbers for clues on what the Fed will do in June!

2. British election updates – Only a couple of days left before the U.K.’s general election! As you may have noticed, election polls are starting to affect currency prices again after they correctly predicted the outcome of the French elections. Will election updates make or break the pound’s trends this week?

3. Trump-related headlines – When in doubt, look for headlines about Trump’s latest decisions! As leader of the world’s biggest economy, Trump’s sentiments and plans on tax, trade, and international cooperation tend to cause ruckus in the markets. Make sure you stick around in case we see one of the more market-moving updates this week!

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.