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How To Make Money Today: Daily Market Analysis and Forex Trading Signals 20 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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USD/CHF

On the H4 timeframe, price is abiding to a descending channel, signifying a bearish momentum. Price dropped from the 1st Resistance in line with 50% Fibonacci retracement, 161.8% Fibonacci extension and graphical overlap resistance. We can expect the price to drop to 1st Support in line with the previous swing low and 161.8% Fibonacci projection. Our bearish bias is further supported by the stochastic indicator where the %K Line dropped from the resistance level.

Areas of consideration:

  • Watch 1st Support at 0.90961
  • Watch 1st Resistance at 0.91809
usdchf technical analysis

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