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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GBP/USD

On the H4, prices are abiding by a descending trendline resistance. We see the potential for a dip from our 1st resistance  1.31614 in line with 61.8% Fibonacci retracement towards our 1st support at 1.30832 in line with 78.6% Fibonacci retracement. Alternatively, breaking descending trendline will find prices climbing towards our 2nd resistance at 1.32081 in line with 100% FIbonacci projection. Our bearish bias is further supported by RSI being at levels where dips previously occurred.

Areas of consideration:

  • H4 1st resistance at 1.31614
  •  H4 1st support at   1.30832
gbpusd analysis

Bulls assault the 200-EMA at 1.3140 in the GBP/USD pair.

  • For a new impulsive wave, pound bulls are looking for a breach of the symmetrical triangle around 1.3140.
  • At 1.3135, the asset has run into resistance at the 200-EMA.
  • In a range of 40.00-60.00, the RSI (14) indicates indecisiveness.

The GBP/USD pair is trading in a narrow range of 1.3086-1.3146, with volatility decreasing. In the absence of a possible trigger that may influence pricing, the cable is unable to draw volumes.

The cable is auctioning in a lengthy symmetrical triangular configuration on an hourly basis. The latter indicates a tightening of the ticks’ volatility, volumes, and size. When the same breaks out, it leads to an increase in volume and bigger ticks. The symmetrical triangle’s top border is drawn from the March 25 high of 1.3225, while the lower boundary is drawn from the March 15 low of 1.3001.

During Friday’s and Monday’s trading sessions, the asset ran into resistance around the 200-period Exponential Moving Average (EMA). The 20-period EMA at 1.3115, on the other hand, is overlapping with the major.

Furthermore, the Relative Strength Index (RSI) (14) is swinging in the 40.00-60.00 area, indicating that the asset is indecisive.

A bullish trigger will take the cable towards the March 30 high at 1.3183, followed by the March 25 high at 1.3225, if the asset exceeds the monthly highs at 1.3146.

The asset will be dragged towards the March lows and the 26 October 2020 high at 1.3000 and 1.2880, respectively, if the symmetrical triangle is broken below the March 29 low at 1.3050.

GBP/USD hourly chart

GBP/USD

OVERVIEW
Today last price1.3113
Today Daily Change-0.0005
Today Daily Change %-0.04
Today daily open1.3118
TRENDS
Daily SMA201.313
Daily SMA501.334
Daily SMA1001.338
Daily SMA2001.3557
LEVELS
Previous Daily High1.3137
Previous Daily Low1.3093
Previous Weekly High1.319
Previous Weekly Low1.3051
Previous Monthly High1.3438
Previous Monthly Low1.3
Daily Fibonacci 38.2%1.312
Daily Fibonacci 61.8%1.311
Daily Pivot Point S11.3095
Daily Pivot Point S21.3072
Daily Pivot Point S31.3051
Daily Pivot Point R11.3139
Daily Pivot Point R21.316
Daily Pivot Point R31.3182

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