Hey, forex friends! If you’re planning on trading the dollar this week, then here are potential chart levels and catalysts you should consider!
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. Top-tier U.K. Reports – Unlike last week, we actually have a good number of top-tier reports scheduled for release over the next couple of days.
The U.K., in particular, is set to print its CPI, jobs, and retail sales numbers which could finally push GBP out of its tight ranges. Will we see one-directional (no, not the boy group) moves from the currency this week?
2. FOMC meeting minutes – Recent meeting minutes and FOMC member speeches have convinced forex players that the Fed would work on reducing its balance sheet some time in September.
If they’re right, then we should at least see some more details from this week’s FOMC meeting minutes release. Keep your eyes glued to the tube!
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