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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USD/CHF:
On the H4, with price moving above the ichimoku cloud, we have a bias that price will rise to our 1st resistance at 0.93702 in line with the 61.8% Fibonacci retracement from our 1st support at 0.92978 in line with the horizontal pullback support. Alternatively, price may break 1st support structure and head for 2nd support at 0.92700 in line with the swing pullback support.
Areas of consideration
- 1st support level at 0.92978
- 1st resistance level at 0.93702
Ahead of the FOMC minutes, the USD/CHF is grabbing bids around 0.9300.
- On the back of aggressive Fed officials, the USD/CHF has risen beyond 0.9300.
- The benchmark 10-year US Treasury rates have hit a new three-year high of 2.61 percent.
- The DXY is reaching 100.00, indicating that safe-haven attraction is increasing.
The USD/CHF pair is rising amid wider greenback strength, which has been bolstered by the Federal Reserve’s (Fed) officials’ hawkish tone. After touching a low of 0.9374 on Tuesday, the pair made a solid upward advance, easily surpassing 0.9300.
Fed Governor Lael Brainard said on Tuesday that the central bank is ready to announce a 50-basis-point interest rate rise (bps). Fed Governor Lael Brainard said that the Fed would take aggressive action if inflation and inflation expectations indicators warrant it.
Because the economy is aware of the growing tide of inflation, the Fed is likely to raise its big interest rates. Furthermore, Fed President Mary Daly said that the labor market is highly tight as a result of full employment, even while the Fed continues to hike interest rates.
The percentage of Fed members that are hawkish is reflected in US Treasury rates. The benchmark 10-year US Treasury rates have hit a new three-year high of 2.61 percent. The benchmark rates are now trading 2.43 percent higher than they were on Tuesday’s closing.
Meanwhile, the US dollar index (DXY) is approaching the psychologically significant level of 100.00, tracking US Treasury yields and dampening market sentiment. The DXY is also being supported by market players given the uncertainty surrounding the publication of the Federal Open Market Committee (FOMC) minutes on Wednesday. The logic underpinning the decision to raise interest rates by 25 basis points in March will be revealed in the FOMC minutes. The Swiss docket, on the other hand, will release the Unemployment Rate on Thursday.
USD/CHF
| OVERVIEW | |
|---|---|
| Today last price | 0.9308 |
| Today Daily Change | 0.0013 |
| Today Daily Change % | 0.14 |
| Today daily open | 0.9295 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.9315 |
| Daily SMA50 | 0.9264 |
| Daily SMA100 | 0.9236 |
| Daily SMA200 | 0.9214 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.9298 |
| Previous Daily Low | 0.9238 |
| Previous Weekly High | 0.9382 |
| Previous Weekly Low | 0.9195 |
| Previous Monthly High | 0.946 |
| Previous Monthly Low | 0.915 |
| Daily Fibonacci 38.2% | 0.9275 |
| Daily Fibonacci 61.8% | 0.9261 |
| Daily Pivot Point S1 | 0.9256 |
| Daily Pivot Point S2 | 0.9216 |
| Daily Pivot Point S3 | 0.9195 |
| Daily Pivot Point R1 | 0.9317 |
| Daily Pivot Point R2 | 0.9338 |
| Daily Pivot Point R3 | 0.9377 |
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