How To Make Money Today: AUD/USD Daily Market Analysis and Forex Trading Signals 31 May 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, with price moving above the ichimoku cloud and price moving within the ascending trend channel, we have a bullish bias that price will rise to our 1st resistance at 0.72634 where the swing high is in line with the 50% Fibonacci retracement from our 1st support at 0.71830. Additionally, price is moving into a bullish pressure as shown in the MACD indicator which supports our bullish bias. Alternatively, price may break 1st support and head for 2nd support at 0.70435 where the horizontal pullback support is, in line with the 78.6% fibonacci projection and 23.6% Fibonacci retracement.
Areas of consideration
- H4 1st resistance at 0.72634
- H4 1st support at 0.71830
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Daily Super Signals (Hit Take Profit targets: TP1 is 100% accurate, TP2 is 100% accurate, TP3 is 85% accurate)
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