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How To Make Money Today: Daily Gold (XAUUSD) Market Analysis and Forex Trading Signals 24 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 H4 chart, prices are on bullish momentum and abiding to our ascending trendline. We would watch for our intermediate level for confirmation in price action. If prices dips below our intermediate level, we would expect it to dip towards our 1st support at 1820.300 in line with 61.8% Fibonacci extension. Alternatively, prices may travel higher towards our 1st resistance at 1847.563 in line with 78.6% Fibonacci retracement. Our bullish bias is further supported by our MA 50 & 200 crosses as well as prices trading above our ichimoku cloud support.  

Areas of consideration:

4h 1st support at 1820.300

4h intermediate resistance at 1829.925

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