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…
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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 1.09760 in line with 100% Fibonacci projection towards our 1st resistance at 1.11311 which is an area of Fibonacci confluences. Stochastics are at levels where bounces previously occurred, further supporting our bullish bias.
Areas of consideration :
- H4 1st resistance at 1.11311
- H4 1st support at 1.09760
On the Ukraine crisis and EU recession fears, the EUR/USD is consolidating at weekly lows below 1.1000.
- Due to a de-escalation in Russia-Ukraine peace negotiations, the EUR/USD has fallen to 1.0970.
- On the killing of civilians in Bucha, Ukraine, Moscow may face harsher penalties from the West.
- The DXY is gaining in response to growing prospects of a Fed rate rise of 50 basis points.
The EUR/USD pair has been hit by a bullet, as rising tensions between Russia and Ukraine have triggered a massive sell-off in the common currency, dragging the pair around 1.0970. The peace negotiations between Russia and Ukraine were proceeding, with officials from both countries debating the provisions of the ceasefire special document. Although a verbal truce was ordered, formal certification was still required.
Things were going well, but the Western leaders’ decision to blame Russia for the deaths of civilians in Ukraine has fueled speculation that new sanctions may be imposed on Moscow. Additional sanctions against Russia might result in stagflation in Europe. Sanctions against Russia are anticipated to increase their oil stocks, resulting in fewer supply to Europe and, as a consequence, higher prices and a slower growth rate. Europe, which imports almost a quarter of its oil from Russia, would feel the pinch of a supply shortage. This has bolstered the dollar’s position versus the common currency.
Meanwhile, the US dollar index (DXY) is looking for a signal that would allow it to 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.
Investors’ attention will now turn to the US ISM Services PMI, which will be released on Tuesday. The economic data is projected to surpass the previous print of 56.6, as the market forecast has climbed to 58. The minutes of the Federal Open Market Committee (FOMC) will be the primary trigger for investors to watch later this week.
EUR/USD
| OVERVIEW | |
|---|---|
| Today last price | 1.0969 |
| Today Daily Change | -0.0004 |
| Today Daily Change % | -0.04 |
| Today daily open | 1.0973 |
| TRENDS | |
|---|---|
| Daily SMA20 | 1.1014 |
| Daily SMA50 | 1.1167 |
| Daily SMA100 | 1.1241 |
| Daily SMA200 | 1.1481 |
| LEVELS | |
|---|---|
| Previous Daily High | 1.1054 |
| Previous Daily Low | 1.0961 |
| Previous Weekly High | 1.1185 |
| Previous Weekly Low | 1.0945 |
| Previous Monthly High | 1.1233 |
| Previous Monthly Low | 1.0806 |
| Daily Fibonacci 38.2% | 1.0997 |
| Daily Fibonacci 61.8% | 1.1019 |
| Daily Pivot Point S1 | 1.0938 |
| Daily Pivot Point S2 | 1.0902 |
| Daily Pivot Point S3 | 1.0844 |
| Daily Pivot Point R1 | 1.1032 |
| Daily Pivot Point R2 | 1.109 |
| Daily Pivot Point R3 | 1.1125 |
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