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Not a lot of top-tier reports scheduled, but the major dollar pairs are in interesting chart patterns this week! Here’s what I’m looking at.

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

Potential Catalysts:

1. FOMC Member Speeches – This week we have not one, not two, but THREE FOMC members who are scheduled to give speeches.

We know that Kashkari has dissented from from raising the Fed’s interest rates for a while now, while Kaplan is also iffy about raising rates further until he sees faster inflation. Dudley, meanwhile, wants to keep calm and carry on with the Fed’s tightening schedule.

2. North Korea updates – In the latest episode of “My nuclear threat is bigger than your nuclear threat,” North Korea has warned of “thousands-fold” revenge against the U.S. This comes after the U.S. has drafted and successfully convinced the UN to impose sanctions on Pyongyang for its nuclear and missile programs.

Will North Korea test the waters (heh) once again by dropping more missiles? More importantly, how will escalating tensions affect risk sentiment? Personally, I’m more interested to see who will say “Curse you 100 times infinity!!!” first.

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