Not a lot of major events on tap this week, but that doesn’t mean we won’t see volatility among major dollar pairs! Here are inflection points and catalysts you might want to keep close tabs on.
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. BOJ statement – On Thursday we’ll see the BOJ publish its monetary policy decision for the month of December. And while no one is expecting policy changes from the central bank, it would be interesting to see if the board will echo Kuroda’s recent statements about possibly contemplating exit strategies in the foreseeable future. Watch this one closely, fellas!
2. End-of-year profit-taking – We’re down to the last trading days of the year and, with holidays around the corner, a lot of market players are likely to take profits and call it a year. I hear the comdolls have been killing it lately. Will the dollar follow suit and lose most of its 2017 gains?
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