How To Make Money Today: Daily Market Analysis and Forex Trading Signals 16 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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DXY:
On the H4 timeframe, prices are abiding by a daily ascending trendline and are on bullish momentum. We see the potential for a bounce from our 1st support at 95.951 in line with 38.2% Fibonacci retracement and graphical overlap towards our 1st resistance at 96.246 in line with 50% Fibonacci retracement. Our bullish bias is further supported by our RSI being bullish momentum.
Areas of consideration:
- H4 time frame, 1st resistance at 96.246
- H4 time frame, 1st support at 95.951
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