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We have not one, not two, but THREE potential catalysts coming up on Thursday. Here are 1-hour charts on the majors to help you spot trade ideas!

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

1.1273

1.1285

1.1109

1.1356

1.1191

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

WO

PWH

PWL

tWATR

bWATR

1.2862

1.2921

1.2769

1.2957

1.2758

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

WO

PWH

PWL

tWATR

bWATR

110.39

111.73

110.33

111.43

109.35

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

WO

PWH

PWL

tWATR

bWATR

0.9640

0.9808

0.9624

0.9712

0.9568

Potential Catalysts:

1. U.K.’s general elections – After weeks of speculations, the U.K. will elect around 650 members of the Lower House of Parliament. Theresa May’s Conservative Party is expected to strengthen its numbers, but recent polls are hinting that the lead may not be as wide as May initially estimated. Watch out for any news that might hint of the outcome of the vote on June 8!

2. Comey’s testimony – Former FBI Director James Comey will testify in front of the Senate intelligence committee on Thursday, where he is expected to provide more details on his dismissal as well as reports that Trump has tried to influence the agency’s probe into Trump’s campaign guys and Russian officials. Make sure you keep your eyes glued to the tube!

3. ECB’s policy decision and presser – As if the two catalysts above aren’t enough drama for one week, the ECB is also set to print its policy statement on Thursday. Market players aren’t expecting policy changes from Draghi and his gang, but all eyes will be on whether or not the ECB is considering easing their monetary stimulus some time in the foreseeable future.

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.