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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USD/CHF:
On the H4, with price expected to bounce off the support of the stochastics indicator, we have a bias that price will rise to our 1st resistance at 0.93001 in line with the 50% Fibonacci retracement from our 1st support at 0.92270 in line with the horizontal overlap support and 127.2% Fibonacci extension. Alternatively, price may break 1st support structure and head for 2nd support at 0.91630 in line with the swing low support.
Areas of consideration
- 1st support level at 0.92302
- 1st resistance level at 0.93001
USD/CHF struggles around 0.9280, lacks follow-through ahead of US Services PMI
- As investors await the US Services PMI, the USD/CHF is trying to break beyond 0.9280.
- In the face of a stronger Swiss franc, DXY’s outperformance is unable to lift the major.
- The Swiss Unemployment Rate and the minutes of the Federal Open Market Committee are two important events that investors will be watching.
Despite the substantial increases in the US dollar index, the USD/CHF pair is hitting barriers around 0.9280. (DXY). After the optimistic US Unemployment Rate, the DXY is soaring higher. The Unemployment Rate was released by the US Bureau of Labor Statistics at 3.6 percent, which was lower than forecasts of 3.7 percent and the previous result of 3.8 percent. The US government is consistently posting a jobless rate below 4%, indicating full employment and, by extension, an increased likelihood of a large interest rate rise by the Federal Reserve (Fed).
To combat rising inflation, the Fed is expected to pursue a tight-aggressive monetary policy. The Fed’s twin mandate: inflation and unemployment rate are both showing signs of weariness, thus a rate rise of 50 basis points (bps) is more plausible. Meanwhile, CME Group’s FedWatch algorithm predicts a half-point rate hike with a 71% chance.
On the currency front, the Swiss franc is holding up well versus the US dollar, owing to optimistic market mood. With progress in the Russia-Ukraine peace negotiations, the risk-on impetus is boosting risk-sensitive currencies. Aside from that, the Swiss franc has strengthened in anticipation of the Swiss Unemployment Rate. The Swiss State Secretariat for Economic Affairs is expected to release a monthly unemployment rate of 2.2 percent, which is consistent with the preceding number.
The Federal Open Market Committee (FOMC) minutes, which are expected on Wednesday, will be the most important event in the coming weeks. However, investors’ attention will be drawn to Tuesday’s US Services PMI, which is expected to rise to 58 from the previous reading of 56.5.
USD/CHF
| OVERVIEW | |
|---|---|
| Today last price | 0.9263 |
| Today Daily Change | 0.0006 |
| Today Daily Change % | 0.06 |
| Today daily open | 0.9257 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.9314 |
| Daily SMA50 | 0.926 |
| Daily SMA100 | 0.9236 |
| Daily SMA200 | 0.9213 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.928 |
| Previous Daily Low | 0.9221 |
| Previous Weekly High | 0.9382 |
| Previous Weekly Low | 0.9195 |
| Previous Monthly High | 0.946 |
| Previous Monthly Low | 0.915 |
| Daily Fibonacci 38.2% | 0.9257 |
| Daily Fibonacci 61.8% | 0.9243 |
| Daily Pivot Point S1 | 0.9225 |
| Daily Pivot Point S2 | 0.9193 |
| Daily Pivot Point S3 | 0.9166 |
| Daily Pivot Point R1 | 0.9284 |
| Daily Pivot Point R2 | 0.9312 |
| Daily Pivot Point R3 | 0.9343 |
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