empty
29.04.2025 07:00 AM
What to Pay Attention to on April 29? A Breakdown of Fundamental Events for Beginners

Analysis of Macroeconomic Reports:

This image is no longer relevant

Very few macroeconomic events are scheduled for Tuesday, and none are significant. If we set aside all the tertiary reports, such as the GfK Consumer Confidence Index in Germany or consumer sentiment in the Eurozone, only the JOLTS report on job openings in the U.S. remains. It should be noted that this report is published with a significant delay, and therefore cannot be considered reflective of the current economic trend. There is every reason to expect that, following the introduction of large-scale import tariffs, the U.S. will face a slowdown in economic growth and a rise in unemployment. Consequently, the April Nonfarm Payrolls and unemployment reports will be far more important than the March JOLTS data.

Analysis of Fundamental Events:

This image is no longer relevant

There is no point in discussing fundamental events other than Trump's trade war. The dollar's decline may continue indefinitely as long as Trump keeps imposing new tariffs and raising existing ones. Any escalation could lead to another drop in the dollar, while any de-escalation could strengthen it.

The U.S. president has started to soften his rhetoric toward China, but this has not yet resulted in de-escalation. Knowing Trump, it would not be surprising if, after announcing a tariff reduction for China, he raises them again.

Donald Trump stated that he does not intend to maintain tariffs on Chinese goods at the 145% level, which triggered a wave of relief across markets. However, the dollar did not experience any surge in optimism. The market sees no concrete signs of de-escalation and thus is in no hurry to buy the U.S. currency. Even on Monday, when there was no news, and traders were eager to act, the market preferred to continue selling the dollar.

General Conclusions:

On the second trading day of the new week, both currency pairs could move in either direction, but we will most likely continue to observe flat trading—at least for the euro. The pound sterling still shows a much greater willingness to rise, and it does not need any news.

Key Rules for the Trading System:

  1. Signal Strength: The shorter the time it takes for a signal to form (a rebound or breakout), the stronger the signal.
  2. False Signals: If two or more trades near a level result in false signals, subsequent signals from that level should be ignored.
  3. Flat Markets: In flat conditions, pairs may generate many false signals or none at all. It's better to stop trading at the first signs of a flat market.
  4. Trading Hours: Open trades between the start of the European session and the middle of the US session, then manually close all trades.
  5. MACD Signals: On the hourly timeframe, trade MACD signals only during periods of good volatility and a clear trend confirmed by trendlines or trend channels.
  6. Close Levels: If two levels are too close (5–20 pips apart), treat them as a support or resistance zone.
  7. Stop Loss: Set a Stop Loss to breakeven after the price moves 15–20 pips in the desired direction.

Key Chart Elements:

Support and Resistance Levels: These are target levels for opening or closing positions and can also serve as points for placing Take Profit orders.

Red Lines: Channels or trendlines indicating the current trend and the preferred direction for trading.

MACD Indicator (14,22,3): A histogram and signal line used as a supplementary source of trading signals.

Important speeches and reports, which are consistently featured in the news calendar, can significantly influence the movement of a currency pair. Therefore, during their release, it is advisable to trade with caution or consider exiting the market to avoid potential sharp price reversals against the prior trend.

Beginners in the Forex market should understand that not every transaction will be profitable. Developing a clear trading strategy and practicing effective money management are crucial for achieving long-term success in trading.

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

What to Pay Attention to on May 22? A Breakdown of Fundamental Events for Beginners

There are several important macroeconomic reports scheduled for release on Thursday. Business activity indexes for May's services and manufacturing sectors will be released in Germany, the Eurozone, the United Kingdom

Paolo Greco 06:31 2025-05-22 UTC+2

The Bank of England to Slow Down the Pace of Policy Easing

The Bank of England recently cut interest rates for the second time in 2025, justifying its decision with slowing inflation and steady movement toward the target level. But no sooner

Chin Zhao 00:05 2025-05-22 UTC+2

The Dollar Sawed Off the Branch It Was Sitting On

Can the euro be considered a strong currency? I have significant doubts about that. An independent group of economic advisors to Friedrich Merz forecasts that the German economy will enter

Marek Petkovich 00:05 2025-05-22 UTC+2

The Yen Goes on a Buyer Strike

A collapse in confidence in the U.S. dollar, rumors of coordinated currency intervention, and capital repatriation to Japan are driving USD/JPY back into a downtrend. The music playing

Marek Petkovich 00:05 2025-05-22 UTC+2

EUR/USD: Continued Weakness in the U.S. Dollar

The four-week-long southern impulse we saw in EUR/USD has fully faded. Last week, sellers pushed the pair to a monthly low at 1.1066, but then seemed to "fear their

Irina Manzenko 18:59 2025-05-21 UTC+2

High Inflation Supports the Pound. GBP/USD Outlook

The UK Consumer Price Index (CPI) rose from 2.6% to 3.5% in April, surprising the market, which had expected an increase to 3.3%. The core CPI also exceeded forecasts

Kuvat Raharjo 18:47 2025-05-21 UTC+2

USD/CAD. Analysis and Forecast

The USD/CAD pair is attracting sellers for the third consecutive day. A break below the 1.3900 level signals increased selling pressure, which could lead to further downside. Rising oil prices—driven

Irina Yanina 18:41 2025-05-21 UTC+2

USD/CHF. Analysis and Forecast

For the third consecutive day, the USD/CHF pair continues to lose ground. The fundamental backdrop suggests that the path of least resistance remains to the downside. The pair has been

Irina Yanina 18:38 2025-05-21 UTC+2

GBP/JPY. Analysis and Forecast

Following the release of UK consumer inflation data, which came in above expectations, the GBP/JPY pair slightly pared back its intraday losses. However, it failed to attract significant buying interest

Irina Yanina 11:25 2025-05-21 UTC+2

Will Global Central Banks Continue to Cut Interest Rates? (Bitcoin May Resume Growth and USD/JPY May Decline)

Among the economically developed nations—those that belong to the Western wing of the global economy—there is an important rule: a target of 2% inflation, specifically consumer inflation. Achieving this target

Pati Gani 09:46 2025-05-21 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.