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
usdchf analysis

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 price0.9263
Today Daily Change0.0006
Today Daily Change %0.06
Today daily open0.9257
TRENDS
Daily SMA200.9314
Daily SMA500.926
Daily SMA1000.9236
Daily SMA2000.9213
LEVELS
Previous Daily High0.928
Previous Daily Low0.9221
Previous Weekly High0.9382
Previous Weekly Low0.9195
Previous Monthly High0.946
Previous Monthly Low0.915
Daily Fibonacci 38.2%0.9257
Daily Fibonacci 61.8%0.9243
Daily Pivot Point S10.9225
Daily Pivot Point S20.9193
Daily Pivot Point S30.9166
Daily Pivot Point R10.9284
Daily Pivot Point R20.9312
Daily Pivot Point R30.9343

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