Lots of attractive setups on the forex majors this week! Here are potential inflection points and catalyst that might affect your dollar trades.
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. NFP report – Can’t have NFP week without the NFP report, amirite? As Forex Gump mentioned in his Weekly Outlook, analysts are expecting somewhat slower job gains in November compared to October. Keep an eye out for any surprises, though, as the number of eyes on the dollar during the release could mean extra volatility for the Greenback!
2. Tax reform updates – Now that the Republican Senate has passed its version of the bill, all eyes will be on how fast Trump and his friends can piece together a bill that both the Lower and Upper House could say “yay” to. If market players don’t get distracted by the Trump-Russia brouhaha, that is.
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