How To Make Money Today: NZD/USD 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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NZD/USD:
On the H4, with price expected to bounce off the support of the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.70161 in line with the swing high resistance from our 1st support at 0.69297 in line with the horizontal overlap support, 78.6% Fibonacci projection. Alternatively, price may break 1st support structure and head for 2nd support at 0.68752 in line with the 50% Fibonacci retracement.
Areas of consideration:
- H4 time frame, 1st support at 0.69297
- H4 time frame, 1st resistance at 0.70161
Bullish NZD/USD traders enter Chinese data at a critical hourly support level.
- Bulls enter the NZD/USD market as bears begin to retreat.
- As traders wait for new triggers, the price is held steady near traditional support.
In a calm Asian day, the New Zealand dollar is trading flat. It is now trading at 0.6945, having moved from a high of 0.6945 to a low of 0.6937. There are no triggers until the Federal Open Market Committee minutes in the US session, however Chinese data will be scrutinized.
It was all about the US currency and yields overnight. The markets were rattled by Federal Reserve Governor Lael Brainard’s comments on the Fed’s possible aggressive steps and the prospect of hawkish minutes tomorrow.
According to the Fed member, the central bank may begin lowering its balance sheet as early as May and would do so at a “fast pace.” She also hinted that interest rate rises might be more aggressive than the customary 0.25 percentage point increments.
As a result, US Treasury rates soared to multi-year highs, while the DXY, a currency index that measures the dollar against a basket of currencies, soared to a new high for 2022 at 99.493.
Meanwhile, during the March meeting, Fed policymakers started the process of policy normalization by raising rates 25 basis points to 0.25 percent -0.50 percent, and the minutes of that meeting will be issued on Wednesday.
“In its policy advice, the FOMC pulls no punches, with Chair Powell implying that further information on QT plans would be released in the minutes” (possibly including caps details). TD Securities analysts stated, “We continue to anticipate a formal QT announcement at the May FOMC meeting.”
The Chinese data is about to be released. “The March Caixin/Markit services PMI could highlight deterioration in the sector due to low demand and high input prices,” Westpac analysts said.
NZD/USD
| OVERVIEW | |
|---|---|
| Today last price | 0.6949 |
| Today Daily Change | 0.0001 |
| Today Daily Change % | 0.01 |
| Today daily open | 0.6948 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.69 |
| Daily SMA50 | 0.6775 |
| Daily SMA100 | 0.6793 |
| Daily SMA200 | 0.691 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.7035 |
| Previous Daily Low | 0.6933 |
| Previous Weekly High | 0.6999 |
| Previous Weekly Low | 0.6876 |
| Previous Monthly High | 0.6999 |
| Previous Monthly Low | 0.6728 |
| Daily Fibonacci 38.2% | 0.6972 |
| Daily Fibonacci 61.8% | 0.6996 |
| Daily Pivot Point S1 | 0.6909 |
| Daily Pivot Point S2 | 0.687 |
| Daily Pivot Point S3 | 0.6807 |
| Daily Pivot Point R1 | 0.7011 |
| Daily Pivot Point R2 | 0.7074 |
| Daily Pivot Point R3 | 0.7112 |
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