How To Make Money Today: Daily Market Analysis and Forex Trading Signals 4 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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EUR/USD :
On the H4 timeframe, prices are consolidating in a parallel channel. We see the potential for a bounce from our 1st support at 1.10347 in line with 78.6% Fibonacci retracement towards our 1st resistance at 1.11848 in line with 61.8% Fibonacci Projection. Stochastics are at levels where bounces previously occurred, further supporting our bullish bias.
Areas of consideration :
- H4 1st resistance at 1.11848
- H4 1st support at 1.10347
EUR/USD Price Analysis: The bulls have moved in and are eyeing the possibility of a bullish extension.
EUR/USD has dropped to a Fibonacci retracement level of 61.8 percent at 1.1030, from where bulls have begun to engage. A bullish bias may be shown in the following example:
If the correction slows down here, more demand might be enticed, pushing the price upward. If the bulls succeed in taking control at that point, there is a chance of a bullish extension for the following week, with targets of 1.1250 and beyond.
EUR/USD H4 chart
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