empty
27.09.2023 05:05 AM
Key events on September 27: fundamental analysis for beginners

Analysis of macroeconomic reports:

This image is no longer relevant

There are hardly any macroeconomic events on Wednesday. No important events scheduled in Germany, the European Union, and the United Kingdom. The United States will release a report on durable goods orders. This report is important because this category of goods is expensive and carries significant weight in household expenditures, reflecting people's inclination toward saving or spending at the current time. It is considered good for the economy if this indicator rises. However, do we really need a reaction to this report? Both the euro and the pound continue to fall almost every day. The dollar clearly doesn't need macroeconomic support at the moment, and it's unlikely that a single report can stop its upward movement.

Analysis of fundamental events:

There is absolutely nothing noteworthy among the fundamental events on Wednesday. Several European Central Bank officials will speak, but they have become quite repetitive and uninformative because we hear the same things day after day or nothing at all. Moreover, the speakers are not even the most important members of the monetary committee. In the United States, there are no speeches or other important events at all.

This image is no longer relevant

General conclusion:

There are hardly any important events on Wednesday. Although, this does not mean that both pairs will stand still. The first two days of the week have shown us that, on the contrary, the downward movement will persist. It will just be gradual and low in volatility.

Basic rules of a trading system:

1) Signal strength is determined by the time taken for its formation (either a bounce or level breach). A shorter formation time indicates a stronger signal.

2) If two or more trades around a certain level are initiated based on false signals, subsequent signals from that level should be disregarded.

3) In a flat market, any currency pair can produce multiple false signals or none at all. In any case, the flat trend is not the best condition for trading.

4) Trading activities are confined between the onset of the European session and mid-way through the U.S. session, post which all open trades should be manually closed.

5) On the 30-minute timeframe, trades based on MACD signals are only advisable amidst substantial volatility and an established trend, confirmed either by a trend line or trend channel.

6) If two levels lie closely together (ranging from 5 to 15 pips apart), they should be considered as a support or resistance zone.

How to read charts:

Support and Resistance price levels can serve as targets when buying or selling. You can place Take Profit levels near them.

Red lines represent channels or trend lines, depicting the current market trend and indicating the preferable trading direction.

The MACD(14,22,3) indicator, encompassing both the histogram and signal line, acts as an auxiliary tool and can also be used as a signal source.

Significant speeches and reports (always noted in the news calendar) can profoundly influence the price dynamics. Hence, trading during their release calls for heightened caution. It may be reasonable to exit the market to prevent abrupt price reversals against the prevailing trend.

Beginning traders should always remember that not every trade will yield profit. Establishing a clear strategy coupled with sound money management is the cornerstone of sustained trading success.

Paolo Greco,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Bitcoin falls prey to crooks

Trust in the financial world is not exclusive to the US dollar. News that scammers have stolen data from approximately 197,000 clients of Coinbase — the world's largest crypto exchange

Marek Petkovich 13:20 2025-05-19 UTC+2

Are There Reasons for the Market Rally to Continue? (Possible Decline in AUD/USD and Growth in GBP/USD)

The coming week is expected to be light on major events or dramatic headlines—no new promises from Donald Trump to shake the world. Nevertheless, there will still be factors worth

Pati Gani 09:52 2025-05-19 UTC+2

The Market Has Gone Too Far

Nothing seems to matter. One would think that after the White House signed trade agreements with Britain and China, and following Donald Trump's visit to the Middle East, the S&P

Marek Petkovich 09:18 2025-05-19 UTC+2

What to Pay Attention to on May 19? A Breakdown of Fundamental Events for Beginners

On Monday, there are very few macroeconomic events scheduled. The only noteworthy release will be the second estimate of the Consumer Price Index (CPI) for April in the Eurozone, which

Paolo Greco 07:34 2025-05-19 UTC+2

EUR/USD Weekly Preview: PMI, IFO, and the Fed

The economic calendar for the upcoming week includes a few significant fundamental events for the EUR/USD pair. However, without information regarding the prospects for trade negotiations, even minor "classic" fundamental

Irina Manzenko 06:27 2025-05-19 UTC+2

GBP/USD Overview – May 19: What to Expect from U.S. Inflation?

The GBP/USD currency pair continued to move sideways on Friday, a trend that has persisted for a month. As the 4-hour chart clearly illustrates, the price mostly moves sideways. While

Paolo Greco 04:42 2025-05-19 UTC+2

EUR/USD Overview – May 19: The Trade War Slows Down the Dollar

The EUR/USD currency pair traded with a slight decline on Friday, and overall volatility has decreased after the "crazy April." The U.S. dollar has been strengthening for over a month

Paolo Greco 04:42 2025-05-19 UTC+2

U.S. Dollar. Weekly Preview

There won't be many important news events in the United States in the coming week—unless one attempts to uncover what's happening in the Oval Office. It's been this

Chin Zhao 00:35 2025-05-19 UTC+2

British Pound. Weekly Preview

The British news background for the upcoming week will be about the same low significance as the European one. However, one report in the UK cannot be ignored—the Consumer Price

Chin Zhao 00:35 2025-05-19 UTC+2

Euro Currency. Weekly Preview

As has become the norm in recent months, the economic news background exerts very little influence on financial instruments. Donald Trump and his trade policy remain the primary market driver

Chin Zhao 00:35 2025-05-19 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.