The public holiday trade (4/7/07) Eur 0 pips

December 5th, 2007 expert Posted in FOREX TRADING STRATEGIES and CONCEPTS, FOREX TRADING ENTRY STRATEGIES |

 ONLINE FOREX TRADING CONCEPTS:  Trading Calender,  Environmental analysis, Public Holiday Trade

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Online Forex traders must always be aware of how events in the world can impact the exchange rates of the various currencies. Major events impacting currency movements are events like elections, interest rate changes and economic announcements. There are also events that have a calming impact on the market. These are public holidays in some or all of the trading markets. Essentially the market represents the views of human beings. When these human beings go on holiday there is very little interest in the Forex market. Yesterday was Independence Day in the USA (the 4th of July). The chart above reflects the EURUSD chart with the EUR only showing a range of 23 pips for the day.

On the whole major public holidays are good days for online Forex Traders to get out and also have a holiday. Even if the price moves a bit, so what, the market will still be there tomorrow. It is always important to not try to squeeze movement out of the market that just is not there. We did very well to breakeven yesterday. Sometimes the best trade you can make is not to trade.

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