Lots of top-tier data releases to watch out for this week! Here are chart levels on the majors that you might want to mark as early as today.
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
1. Central bank decisions – This week we have not one, not two, but FOUR central bank events coming our way. Specifically, the Fed, SNB, BOE, and the BOJ will all publish their monetary policy decisions between Wednesday to Friday. Only the Fed is expected to make policy changes this month, but keep your eyes glued to the tube for pre-event moves or even surprises during the event!
2. Top-tier U.K. reports – Aside from the BOE’s policy decision on Thursday, we’ll also see the U.K.’s inflation, employment, and retail sales reports. And that’s on top of Theresa May’s packed schedule this week! Think we’ll see even more volatility for the pound this week?
3. Geo/political updates – The U.K. elections and Comey’s Senate testimony snagged the spotlight for most of the week. But while this week’s scheduled events are more focused on central banks and data releases, we can’t discount updates on Qatar’s troubles with its neighbors, and updates on Theresa May’s new government and the Comey hullabaloo to move the major currencies over the next couple of days.
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!
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