Analysis of Macroeconomic Reports:

A significant number of macroeconomic events are scheduled for Friday, and nearly all of them hold great importance. In contrast, the economic calendar for the UK, Germany, and the Eurozone is completely empty today. However, the U.S. reports will provide ample data for the market.

The U.S. will release the NonFarm Payrolls, unemployment rate, consumer sentiment, and wage growth reports. The importance of the NonFarm Payrolls and unemployment rate reports cannot be overstated, as they directly influence the Federal Reserve's monetary policy, which accounts for approximately 70% of the U.S. dollar's movements. While wage data is less significant, the University of Michigan Consumer Sentiment Index may provoke a market reaction if actual figures significantly deviate from forecasts.

Analysis of Fundamental Events:

There are no noteworthy fundamental events scheduled for Friday, and no significant speeches or other events are planned. However, these are unnecessary, as traders will have plenty of U.S. macroeconomic data to analyze.

General Conclusions:

On the last trading day of the week, traders can expect further declines in both the euro and the pound. However, the movements of these currency pairs today will depend largely—if not entirely—on the U.S. labor market and unemployment reports, which are set to be released in the afternoon. In any case, the medium-term downtrends for both pairs remain intact and are likely to continue even after today.

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 Events and Reports: Found in the economic calendar, these can heavily influence price movements. Exercise caution or exit the market during their release to avoid sharp reversals.

Forex trading beginners should remember that not every trade will be profitable. Developing a clear strategy and practicing proper money management are essential for long-term trading success.