How To Make Money Today: NZD/USD Daily Market Analysis and Forex Trading Signals 1 April 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, we see the potential for a bearish reversal from our 1st resistance at 0.70061 in line with 50% Fibonacci retracement towards our 1st support at 0.65404 in line with 61.8% Fibonacci projection. Price is trading below the ichimoku cloud indicator, further supporting our bearish bias.
On the daily, we see the potential for a bearish reversal from our 1st resistance at 0.69938 in line with 61.8% Fibonacci retracement and 127.2% Fibonacci extension towards our 1st support at 0.67296 in line with 78.6% Fibonacci projection and 50% Fibonacci retracement. Our bearish bias is supported by the stochastic indicator where it is at resistance level.
On the H4 timeframe, we see the potential for a bullish bounce from our 1st support at 0.69188 in line with 23.6% Fibonacci retracement towards our 1st resistance at 070514 in line with 161.8% Fibonacci extension. Our bearish bias is supported by price trading above the ichimoku cloud indicator.
Areas of consideration :
- H4 1st resistance at 0.70514
- H4 1st support at 0.69188
NZD/USD Price Analysis: Bulls re-engage at H4 resistance, aiming for 0.7050
- Bulls in the NZD/USD are attempting to reclaim 4-hour support.
- Bulls are anticipating a continuation of the bull trend in order to achieve new daily highs.
On the daily chart, NZD/USD is preparing for a likely bullish continuation, and the following displays the market structure there and on the 4-hour chart:
The price has retraced its steps back to the previous resistance level, which is currently serving as support. If this holds, bulls may be emboldened to commit to the larger bullish trend, and a higher high may be in the near future. In this sense, 0.7050 will be a focal point.
On the 4-hour chart, we see the price establishing a support structure, which the bulls have exploited. It would be good if the recently printed 4-hour highs at 0.6960 were broken.
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