US Session Technical Analysis May 16th 2017

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US Session Technical Analysis May 16th 2017

Hi Traders! US Session technical analysis May 16th 2017 is here. Its time to find out the best trade setups that market has provided for us. My analysis of some of the important currency pairs are as follows:

 

USDCAD H4 Chart:

In this pair the price which was moving inside the range between 1.3647 – 1.3741 has now broken out at the bottom of this range and is currently moving lower. If this bearish momentum continues we may expect the price to move lower and reach the 1.3539 support zone. Whereas if this turns out to be a false break and the momentum changes then we may expect the price to move higher and reach the 1.3717 resistance zone.

US Session Technical Analysis May 16th 2017

 

CADCHF H4 Chart:

In this pair the price which was above the key level 0.7279 has moved lower and has now reached below this key level. Currently this pair is in a bearish momentum and if this momentum continues we may expect the price to move lower further and reach the 0.7138 support level. Also a hidden bullish divergence has formed in this pair and if the momentum changes we may expect the price to move higher and reach the 0.7438 resistance zone. A new down trendline has formed if the price moves higher and a breakout of this trendline happens we can look for buys until the last low holds.

US Session Technical Analysis May 16th 2017

 

GBPJPY H4 Chart:

In this pair the price is moving inside a range between 145.61 – 148.15.  A triangle pattern is formed in this pair. If a breakout happens at the top of this pattern we may expect the price to move higher and reach the 147.26 resistance zone and then to reach the top of this pattern at 148.15. Whereas if a breakout happens at the bottom of this range we may expect the price to move lower and reach the bottom of the range first at 145.61 and then to reach the 145.09 support zone.

US Session Technical Analysis May 16th 2017

 

Oil H4 Chart:

In this commodity the price is currently in the key level 49.38. A bearish divergence has formed in this pair and if the momentum changes we may expect the price to move lower and break the uptrend line first and then to reach the 48.19 support level. Rather if the price reaches the uptrend line and bounces we may expect the price to move higher and reach the 50.78 resistance level.

US Session Technical Analysis May 16th 2017

 

Note: As long as the price is moving inside the range and there is no confirmed breakout. Every visit of the High/Top of the range is a sell opportunity and every visit of the price near the Low/Bottom of the range is a buy opportunity.

 

You can get more trade ideas by joining my club for free now. You can enroll today here:

US Session Technical Analysis May 15th 2017
Also you can get one of my strategies free of charge. You will find all the details here

 

Yours,

Vladimir

 

 

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