Another week, another chance to make pips! Here are possible catalysts and inflection points for those who are planning on trading the major dollar pairs this week!
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 |
|
1.0632 |
1.0686 |
1.0453 |
1.0737 |
1.0526 |
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
1.2032 |
1.2317 |
1.2039 |
1.2182 |
1.1882 |
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
114.18 |
117.54 |
113.76 |
115.55 |
112.81 |
|
WO |
PWH |
PWL |
tWATR |
bWATR |
|
1.0103 |
1.0249 |
1.0043 |
1.0185 |
1.0008 |
Potential Catalysts:
1. Top-tier U.K. data releases – This week the U.K. will publish its inflation, employment, and retail sales numbers. Analysts are generally expecting weaker numbers for the last two, while CPI is estimated to have grown by 1.4% since the previous month. However, these reports could take a backseat in favor of Brexit-related updates. Watch out for speeches by PM Theresa May as well as BOE’s Mark Carney for clues on how they plan to protect the economy from a bitter (and possibly costly) EU divorce!
2. Central banker events – Aside from Mark Carney, Janet Yellen will also take the stage later this week. Not only that, but the BOC and the ECB are also set to announce their monetary policy plans for January. While markets aren’t expecting changes from the central banks, analysts will hunt for clues on their major concerns for the year ahead.
3. Pre-inauguration updates – With only days away from Trump officially becoming the POTUS, market players will scramble to either stay in the sidelines or position their trades according to their biases. Expect headlines (or tweets) and speculations to affect the dollar’s price action ahead of the weekend. Make sure to manage your risks if you do plan to get pips this week!
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:
Here’s my Q3 2016 Trade Review and Reflections
Read the 5 lessons I’ve learned in 2015
These are some of our favorite trading books, and BabyPips.com receives a small credit from any purchases through the Amazon links above to help support the free content and features of our site…enjoy!
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.