Welcome to another NFP trading week! Are you ready to book pips? Here are charts and potential catalysts 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
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
1.0720 |
1.0776 |
1.0657 |
1.0806 |
1.0634 |
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
1.2568 |
1.2674 |
1.2371 |
1.2711 |
1.2461 |
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
144.33 |
115.63 |
112.57 |
116.29 |
112.37 |
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
0.9969 |
1.0029 |
0.9960 |
1.0063 |
0.9875 |
Potential Catalysts:
1. Trump-related updates – Can I just leave this on the list for the next four years? Trump has only been in the office for about a week and already the dollar has gone all over the place reacting to his decisions. Who knows what he’s going to sign tomorrow or next week? For forex traders, keep close tabs on his infrastructure plans, tax reform, and protectionist stance, as these topics tend to hit the nerves of market players around the globe.
2. BOE Super Thursday – On Thursday Mark Carney and his gang would publish their monetary policy decision as well as their inflation report. Last we heard, they’re willing to let inflation overshoot their targets a bit because acting on it effort and market reaction-wise than letting inflation overshoot a little. Think they’ll change their tune this month?
3. U.S. NFP Report – This Friday we’ll see the second non-farm payrolls (NFP) report from Uncle Sam. Analysts are expecting to see stronger numbers this time around with a reading of 170K against last month’s 156K figure. A strong report would support the Fed’s uber hawkish stance, while a downside surprise could add pressure to the Greenback on top of Trump-related market uncertainties.
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!
See also:
Latest Weekly Trading Prep
My Q4 2016 Forex Trade Review and Reflections
HLHB System’s 2016 Performance Summary
Read the risk disclosure!
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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.