How To Make Money Today: Daily Market Analysis and Forex Trading Signals 21 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 resistance level of 1.14226 which is also 23.6% Fibonacci resistance and 61.8% Fibonacci projection. Price can dip to the 1st support of 1.06475 which is also 78.6% Fibonacci projection. Our bearish bias is supported by the ichimoku cloud indicator as price is trading below it.
On the daily chart, price is abiding by a descending trendline and near 1st resistance level of 50% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially dip to the 1st support level of 1.11919 which is also 61.8% Fibonacci projection. Our bearish bias is supported by the ichimoku cloud indicator as price is trading below it.
On the H4 chart , price is trading in an ascending trendline, and is near 1st support level of 1.12915 which is also 161.8% Fibonacci projection. Price can potentially go to the 1st resistance level of 1.13895 which is 161.8% Fibonacci projection and 38.2% Fibonacci retracement. Our bullish bias is supported by the stochastic indicator as it is near support level.
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