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What events may affect market sentiment on July 4? Overview of fundamental events for beginners
July 4, 2023 3:24 amVideo
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Overview of macroeconomic reports
No macro events lined up for Tuesday, July 4th. Independence Day will be celebrated in America, so it is an official holiday. No reports planned in Europe and the UK either, so most likely, we should brace ourselves for another low-volatility day.
Overview of fundamental events
No fundamental events are planned for the same reasons.
Bottom line
Traders will have nothing to focus on today. No trading in the US, stock markets, banks will be closed. Volatility may be very low and flat all day.
Main rules of the trading system:
Comments on charts
Support and resistance levels are levels that serve as targets when opening long or short positions. Take Profit orders can be placed around them.
Red lines are channels or trend lines that display the current trend and show which direction is preferable for trading now.
The MACD (14,22,3) indicator, both histogram and signal line, is an auxiliary indicator that can also be used as a source of signals.
Important speeches and reports (always found in the news calendar) can significantly influence the movement of a currency pair. Therefore, during their release, it is recommended to trade with utmost caution or to exit the market to avoid a sharp price reversal against the previous movement.
Beginners trading in the forex market should remember that not every trade can be profitable. Developing a clear strategy and money management is the key to success in trading over a long period of time.
The material has been provided by InstaForex Company – www.instaforex.com
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