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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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On the weekly chart price in between 1st resistance of 1.42498  which is in line with 100% Fibonacci projection, 50% Fibonacci retracement and 1st support of 1.31885 which is in line with 38.2% Fibonacci retracement and 61.8% fibonacci projection. Price can potentially go to the 1st resistance level of 1.42498 which is the graphical swing high level. Our bullish bias is supported by the ichimoku cloud indicator. 

On the daily chart , price is abiding by the descending trendline and near 1st resistance level of 1.37179 which is also 127.2% Fibonacci projection and 78.6% Fibonacci retracement. Price can potentially dip to the 1st support of 1.34172 which is also 50% Fibonacci retracement.  Our bearish bias is supported by the stochastic indicator as it is near resistance level.

On the H4 chart, price has recently broken out of the ascending trendline and near 1st support level of 1.35746 which is also 50% Fibonacci retracement and 78.6% Fibonacci projection. Price can potentially dip to the 2nd support of 1.34640 which is 127.2% Fibonacci projection and 50% Fibonacci retracement. Our bearish bias is supported by the ichimoku cloud indicator as price is trading below it. 

Areas of consideration

  • 1st resistance at 1.36049
  • 1st support at 1.35289
gbpusd forecast

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