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How To Make Money Today: Daily Market Analysis and Forex Trading Signals 14 January 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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EUR/USD :

On the weekly chart, price is near the 1st support level of 1.13819 which is also 23.6% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially go to the 1st resistance level of 1.16505 which is also 78.6% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator as it is near support level. 

On the daily chart, price has recently broken out of the descending trendline and is near 1st resistance level of 1.14708 which is also 23.6% Fibonacci retracement. Price can potentially go to the graphical overlap resistance level of 1.16754 which is also 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it. 

On the H4 chart , price is abiding by an ascending trendline and is near 1st support level of 1.14526 which is also 161.8% Fibonacci projection and 61.8% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.15346 which is also 78.6% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator as price is trading above it. 

Areas of consideration:

  • H4 1st resistance at 1.15346
  • H4 1st support at 1.14526
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