How To Make Money Today: Daily Market Analysis and Forex Trading Signals 5 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…
On the H1 timeframe, prices are approaching a pivot. We see the potential for a dip from our 1st resistance at 98.4931 in line with 50% Fibonacci Retracement towards our 1st support at 97.7490 in line with 61.8% Fibonacci Projection. Prices are trading below our ichimoku clouds, further supporting our bearish bias.
Areas of consideration:
- H4 time frame, 1st resistance at 98.4931
- H4 time frame, 1st support at 97.749
DXY on focus
The US dollar index (DXY) is looking for a catalyst that would help it break beyond 99.00. The DXY has seen a big rise on increased predictions that the Federal Reserve (Fed) would raise interest rates by 50 basis points (bps) in May’s monetary policy.
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