How To Make Money Today: Daily Market Analysis and Forex Trading Signals 8 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…
On the weekly, prices have reached a key pivot. We see the potential for a dip from our 1st resistance at 1.31756 in line with 23.6% Fibonacci retracement towards our 1st support at 1.27283 in line with 100% fibonacci Projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.
On the daily, prices are on bearish momentum. We see the potential for a dip from our 1st resistance at 1.31632 in line with 23.6% Fibonacci retracement towards our 1st support at 1.28887 in line with 61.8% Fibonacci projection. Prices are trading below our ichimoku cloud resistance, further supporting our bearish bias.
On the H4, prices are approaching a pivot. We see the potential for further bearish continuation from our 1st resistance at 1.30961 in line with 61.8% Fibonacci retracement towards our 1st support at 1.3000 in line with 161.8% Fibonacci Projection. Alternatively, if prices continue to climb, we might find prices climbing further towards our 2nd resistance at 1.3158 in line with 50% Fibonacci retracement. Our bullish bias is further supported by RSI being at levels where dips previously occurred.
Areas of consideration:
- H4 1st resistance at 1.30961
- H4 1st support at 1.3000
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