Another week, another chance to get pips! Here are major chart levels and possible catalyst for the major dollar pairs!
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. Janet Yellen’s testimony – If you check your trading calendar, you’ll see that there are plenty of FOMC members scheduled to make speeches this week.And after last Friday’s NFP release, market players are expecting hawkish tones.
Are Yellen and her team as hawkish as they were when they raised rates?
Or will they introduce a bit of cautiousness this week?
2. Will central bank-induced trends continue? – As you know, the ECB, BOE, and BOC got some attention after they shared hawkish sentiments. Meanwhile, the dollar tanked after the FOMC meeting minutes release. Will the central bank party extend to week two of July?
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.