How To Make Money Today: Daily Market Analysis and Forex Trading Signals 28 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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GBP/USD
On the weekly chart , price is near 1st support level of 1.31885 which is also 61.8% Fibonacci projection and 38.2% Fibonacci retracement. Price can potentially go to the 1st resistance level of 1.42498 which is also 100% Fibonacci projection and 50% Fibonacci retracement. Our bullish bias is supported by the ichimoku cloud indicator.
On the daily chart , price is abiding by the descending trendline and near 1st support level of 1.33618 which is also 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially experience a short bounce to the 1st resistance level of 1.36067 which is also 61.8% Fibonacci retracement and 100% Fibonacci projection. Our bullish bias is supported by the stochastic indicator as it is near support level.
On the H4 chart price is near 1st support level of 1.33613 which is also 127.2% Fibonacci retracement. Price can potentially bounce to the 1st resistance level of 1.35254 which is also 50% Fibonacci retracement and 161.8% Fibonacci projection. Our bullish bias is supported by the stochastic indicator as it is at support level.
Areas of consideration:
- H4 1st resistance 1.35254
- H4 1st support 1.33613
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