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How To Make Money Today: 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…

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DXY:

On the H4, with prices bouncing off the ichimoku cloud and breakout from descending trendline, we have a bullish bias that price will rise from our 1st support at 1842.69 where the horizontal swing low support is to our 1st resistance at 1864.78 in line with the horizontal swing high resistance,61.8% Fibonacci retracement and 38.2% Fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 1834.62 where the horizontal overlap support and 38.2% fibonacci retracement are.

Areas of consideration: 

  • H4 time frame, 1st Resistance at 1864.78
  • H4 time frame, 1st Support at 1842.69

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