How To Make Money Today: Daily Market Analysis and Forex Trading Signals 30 March 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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USD/CHF:
On the H4, with price moving below our ichimoku cloud, we have a bias that price will drop from 1st resistance at 0.93743 in line with the horizontal swing high resistance and 61.8% Fibonacci retracement to 1st support at 0.92668 in line with the horizontal swing low support and 100% Fibonacci projection. Alternatively, price may break 1st resistance and head for 2nd resistance at 0.94229 in line with the horizontal swing high resistance. Do take note of intermediary support at 0.92954.
Areas of consideration
- 1st support level at 0.92668
- 1st resistance level at 0.93743
As the DXY drops on improved risk appetite, the USD/CHF falls towards 0.9300.
- USD/CHF dips to approximately 0.9300 on progress in the Russia-Ukraine peace negotiations.
- A positive move by Moscow and Kyiv toward a cease-fire has sparked a new round of risk-taking.
- The DXY was unable to benefit from rising consumer confidence and JOLTS job openings.
As investors’ heightened risk appetite fades after the gain in the mighty dollar, the USD/CHF pair has received some hefty offers at 0.9375 and has been dropped to 0.9300. The positive conclusion of the Russia-Ukraine peace negotiations has boosted market mood, and a risk-on inclination has fueled demand for risky assets.
As a first step toward a cease-fire, the Kremlin is reducing military action in northern Ukraine and its capital, Kyiv. The departure of Russian forces from Ukraine’s different regions has signaled a future truce between the two countries. Meanwhile, Ukraine has declared neutrality and said that it would not join any coalitions. Although Russia did not have a dominant presence in certain districts, a departure of Russian military operations from Mariupol city would be seen as an important step toward a longer peace.
In terms of the dollar, the US dollar index (DXY) has lost momentum and is now hovering around 98.00 amid a bullish market attitude. The outperformance of US Consumer Confidence and JOLTS Job Openings has failed to give the greenback any reason to be optimistic. However, their outperformance has increased the chances of a Federal Reserve (Fed) interest rate rise of 50 basis points (bps) in May’s monetary policy.
Aside from the Russia-Ukraine peace negotiations, investors will be focused on the US ADP Employment Change and Gross Domestic Product (GDP) Annualized, which are due on Wednesday, and the Swiss National Bank (SNB) Quarterly Bulletin, which will be released in the same time on the Swizz docket.
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