How To Make Money Today: 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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USD/CHF:
On the weekly, with price expected to reverse off the stochastics resistance, we expect to see a potential for bearish drop from our 1st resistance of 0.93372 in line with the swing high resistance towards our 1st support level at 0.89358 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 2nd resistance level at 0.94582 which is in line with the swing high resistance.
On the daily, price is expected to reverse off the stochastics resistance, we expect to see a potential for bearish drop from our 1st resistance of 0.93078 in line with the 50% Fibonacci retracement towards our 1st support level at 0.89358 in line with the horizontal swing low support. Alternative scenario: If price breaks out, it can potentially move towards our 2nd resistance level at 0.94134 which is in line with the swing high resistance.
On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bias that price will rise to our 1st resistance at 0.93001 in line with the 50% Fibonacci retracement from our 1st support at 0.92302 in line with the horizontal overlap support and 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support at 0.91630 in line with the swing low support.
Areas of consideration
- 1st support level at 0.92302
- 1st resistance level at 0.93001
Bears target the 200 EMA at 0.9200 in the USD/CHF pair.
- On the ‘Spinning Top’ candlestick pattern, the asset exhibits indecisiveness.
- For the first time this year, the RSI (14) seems to be breaking below 40.00 on the downside.
- Swiff franc bulls have run into resistance at the 200 EMA.
After sliding below the round level support of 0.9200, the USD/CHF pair has swiftly rebounded. After a two-day sell-off, the major has seen small response buying from the 200-period Exponential Moving Average (EMA) around 0.9217.
On a daily basis, the asset is protected by a trendline that runs from the January 13 low of 0.9092 to the February 21 low of 0.9150. The appearance of the ‘Spinning Top’ candlestick pattern near the trendline indicates that market participants’ feelings are indecisive. The asset is trading below the 50-day exponential moving average (EMA) at 0.9264, adding to the negative filters.
The Relative Strength Index (RSI) (14) is now bouncing between 40.00 and 60.00, but it is expected to go below 40.00 for the first time this year, resulting in increased selling by investors.
A bearish trigger will be triggered if the asset falls below the ‘Spinning Top’ candlestick pattern at 0.9195, dragging it towards monthly lows and the January 24 low at 0.9150 and 0.9109, respectively.
Greenback bulls, on the other hand, may gain control if the asset rises over the 50 EMA at 0.9264. This will push the asset to a high of 0.9293 on March 28, followed by a high of 0.9319 on March 30.
USD/CHF
| OVERVIEW | |
|---|---|
| Today last price | 0.9228 |
| Today Daily Change | -0.0004 |
| Today Daily Change % | -0.04 |
| Today daily open | 0.9232 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.9308 |
| Daily SMA50 | 0.9256 |
| Daily SMA100 | 0.9236 |
| Daily SMA200 | 0.9213 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.9318 |
| Previous Daily Low | 0.922 |
| Previous Weekly High | 0.9376 |
| Previous Weekly Low | 0.926 |
| Previous Monthly High | 0.9297 |
| Previous Monthly Low | 0.915 |
| Daily Fibonacci 38.2% | 0.9258 |
| Daily Fibonacci 61.8% | 0.9281 |
| Daily Pivot Point S1 | 0.9195 |
| Daily Pivot Point S2 | 0.9159 |
| Daily Pivot Point S3 | 0.9097 |
| Daily Pivot Point R1 | 0.9294 |
| Daily Pivot Point R2 | 0.9355 |
| Daily Pivot Point R3 | 0.9392 |
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