How To Make Money Today: Daily Market Analysis and Forex Trading Signals 6 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 on strong bearish momentum. We see the potential for slight pullback from our 1st support at 1.08953 which is an area of Fibonacci confluences towards our 1st resistance at 1.09482 in line with 23.6% Fibonacci retracement. RSI is at levels where bounces previously occurred.

Areas of consideration :

  • H4 1st resistance at 1.09482
  • H4 1st support at  1.08953
eurusd forecast

The EUR/USD crosses the 1.09 mark, and the Fed’s minutes are being scrutinized.

  • The EUR/USD is under pressure due to a number of important factors.
  • The bears have moved in for the kill, pushing the euro below the 1.09 level.

In Asia, the EUR/USD has been under pressure as markets are risk-averse as the dollar continues to rise on the front, extending overnight gains. From the session’s highs of 1.0908, the euro has slid to a low of 1.0890.

The threat of the Federal Reserve fast lowering its debt holdings was drummed up in the early minutes of Tuesday’s US session, when new sanctions against Russia were implemented. The combination of this, as well as poor Chinese Services data, has taken the wind out of Asian markets.

On Tuesday, Fed Governor Lael Brainard said that limiting inflation is “important,” and that the central bank might begin aggressively shrinking its balance sheet as early as May. Investors are anxious that tighter monetary policy by the US central bank may lead to a recession.

Meanwhile, in March, China’s services sector contracted at its fastest rate in two years. In the end, the Covid infections limited mobility and weighed the demand for services. China’s Caixin services PMI for March was 42.0, down from 53.0 predicted and 50.2 the previous month, indicating that the country’s services activity shrank due to coronavirus outbreak-related lockdown measures.

Despite mounting outrage over the city’s quarantine laws, Chinese officials extended a COVID-19 lockdown in Shanghai to encompass all of the city’s 26 million residents on Tuesday.

An Asia-Pacific stock index sank roughly 1.5 percent as a result of this poisonous combination of fundamentals, headed by Japan and Hong Kong, which reopened after a vacation. As a consequence of the decrease in Wall Street equities, futures in the United States and Europe plummeted as well.

Meanwhile, the minutes of the Fed’s most recent policy meeting will be released later in the US session on Wednesday. These will be scrutinized for signs about the possibility of a 50 basis point rise in May. ” ‘In its policy advice, the FOMC pulls no punches, with Chair Powell implying that further information on QT plans would be revealed in the minutes (possibly including caps details). TD Securities analysts stated, “We continue to anticipate a formal QT announcement at the May FOMC meeting.”

EUR/USD

OVERVIEW
Today last price1.0897
Today Daily Change-0.0008
Today Daily Change %-0.07
Today daily open1.0905
TRENDS
Daily SMA201.1014
Daily SMA501.1159
Daily SMA1001.1237
Daily SMA2001.1476
LEVELS
Previous Daily High1.0989
Previous Daily Low1.09
Previous Weekly High1.1185
Previous Weekly Low1.0945
Previous Monthly High1.1233
Previous Monthly Low1.0806
Daily Fibonacci 38.2%1.0934
Daily Fibonacci 61.8%1.0955
Daily Pivot Point S11.0874
Daily Pivot Point S21.0842
Daily Pivot Point S31.0785
Daily Pivot Point R11.0963
Daily Pivot Point R21.102
Daily Pivot Point R31.1052

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