How To Make Money Today: Daily Market Analysis and Forex Trading Signals 20 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 H4 timeframe, we have a neutral bias. Price is abiding to the descending channel and trading below the ichimoku cloud. Therefore, price can potentially break through the 1st support level of 1.29935 along with a graphical swing low support to trigger a dip towards the 2nd support level of 1.29070 which is in line with 61.8% Fibonacci projection and 127.2% Fibonacci extension. Otherwise, price might break through the 1st resistance level of 1.30482 which is in line with 38.2% Fibonacci retracement and a pullback resistance to trigger a rise towards the 2nd resistance level of 1.31475 which is in line with 61.8% Fibonacci projection.
Areas of consideration:
- H4 1st resistance at 1.30482
- H4 2nd resistance at 1.31475
- H4 1st support at 1.29935
- H4 2nd support level at 1.29070
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