How To Make Money Today: NZD/USD 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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NZD/USD:
On the H4, with price expected to bounce off the support of the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.69875 in line with the swing high resistance from our 1st support at 0.68752 in line with the horizontal overlap support, 50% Fibonacci retracement and 100% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 0.68332 in line with the 138.2% Fibonacci extension and 61.8% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 0.68752
- H4 time frame, 1st resistance at 0.69875
NZD/USD Price Analysis: Multiple unsuccessful efforts at 0.7000 send the currency pair downward.
- Failure to stay above the 61.8 percent Fibo retracement level raises the possibility of a drop.
- The asset is fluctuating between 0.6864-0.6998, which is a somewhat bigger range.
- The RSI (14) has dropped into the 40.00-60.00 zone, indicating that consolidation is on the horizon.
For the last two weeks, the NZD/USD pair has been swinging in a somewhat larger range of 0.6864-0.6998, with roadblocks approaching the psychological resistance of 0.7000.
On a daily basis, the pair has been pulled lower by selling pressure over the 61.8 percent Fibonacci retracement (set from the 21 October 2021 high of 0.7219 to the 28 January low of 0.6529) at 0.6956. The trendline drawn from the low on January 28th at 0.6529 will continue to operate as a crucial support level in the future.
The 20- and 50-period Exponential Moving Averages (EMAs) are scaling higher at 0.6895 and 0.6836, respectively, indicating further upside ahead.
However, the Relative Strength Index (RSI) (14) has dropped into the 40.00-60.00 zone, indicating that consolidation is on the way. After the RSI (14) failed to persist in the 60.00-80.00 zone, the Kiwi bulls had lost control.
The kiwi bulls are anticipated to be supported by a break of psychological resistance of 0.7000, which will propel the asset higher towards the 19 November 2021 high of 0.750, followed by the 22 October 2021 low of 0.7131.
On the other hand, if the asset falls below the 50 percent Fibo retracement level of 0.6875, greenback bulls may gain power, dragging the major towards the 50-EMA level of 0.6836. If the latter is breached, the asset will be sent back to its March 15 low of 0.6728.
NZD/USD
OVERVIEW | |
---|---|
Today last price | 0.6917 |
Today Daily Change | -0.0014 |
Today Daily Change % | -0.20 |
Today daily open | 0.6931 |
TRENDS | |
---|---|
Daily SMA20 | 0.6887 |
Daily SMA50 | 0.6765 |
Daily SMA100 | 0.6794 |
Daily SMA200 | 0.691 |
LEVELS | |
---|---|
Previous Daily High | 0.695 |
Previous Daily Low | 0.6895 |
Previous Weekly High | 0.6999 |
Previous Weekly Low | 0.6876 |
Previous Monthly High | 0.6999 |
Previous Monthly Low | 0.6728 |
Daily Fibonacci 38.2% | 0.6916 |
Daily Fibonacci 61.8% | 0.6929 |
Daily Pivot Point S1 | 0.6901 |
Daily Pivot Point S2 | 0.687 |
Daily Pivot Point S3 | 0.6846 |
Daily Pivot Point R1 | 0.6955 |
Daily Pivot Point R2 | 0.698 |
Daily Pivot Point R3 | 0.701 |
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