How To Make Money Today: NZD/USD Daily Market Analysis and Forex Trading Signals 11 February 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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NZD/USD:
On the weekly, prices are on bearish momentum and consolidating in a bearish channel. We see the potential for a dip from our 1st resistance at 0.68051 in line with 38.2% Fibonacci retracement and 161.8% Fibonacci Projection towards our 1st support at 0.65298 in line with 161.8% Fibonacci Projection. Prices are trading below our Ichimoku cloud resistance and RSI is on bearish momentum, further supporting our bearish bias. On the daily, prices are on bearish momentum and abiding to our descending trendline. We see the potential for a dip from our 1st resistance at 0.67016 in line with 50% Fibonacci retracement and 23.6% Fibonacci retracement towards our 1st support at 0.66118 in line with 61.8% Fibonacci retracement. Prices sre trading below our ichimoku cloud resistance and also RSI is at levels where dips previously occurred, supporting our bearish bias.
On the H4 timeframe, prices have dipped beyond our strong graphical overlap and are on bearish momentum. We see potential for bearish continuation from our 1st resistance at 0.66738 in line with 38.2% Fibonacci retracement towards our 1st support at 0.66247 in line with 50% Fibonacci retracement, 78.6% Fibonacci extensions and 23.6% Fibonacci retracement. Our bias is further supported by RSI being at levels where dips previously occurred. Alternatively, our stop loss will be placed at 2nd resistance at 0.67338 in line with 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st resistance at 0.66738
- H4 time frame, 1st support at 0.66247
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