US Session Technical Analysis May 18th 2017

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US Session Technical Analysis May 18th 2017

Hi Traders! US Session technical analysis May 18th 2017 is here.  We are almost near the end of this week. 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:

 

GBPUSD H4 Chart:

The price which was moving inside the range between 1.2852 – 1.2969 has now broken out at the top of this range and is currently moving higher. If this bullish momentum continues we may expect the price to move further higher and reach the 1.3094 resistance zone. Whereas if this turns out to be a false break and if the momentum changes then we may expect the price to move lower towards the bottom of the range at 1.2969.

US Session Technical Analysis May 18th 2017

 

AUDUSD H4 Chart:

The price which was in the key level 0.7429 has moved higher and has now reached 0.7459 resistance level. If this bullish momentum continues we may expect the price to move higher further and reach the 0.7539 resistance zone. Also a bearish divergence has formed in this pair and if the momentum changes we may expect the price to move lower and reach 0.7429 key level again.

US Session Technical Analysis May 18th 2017

 

 

GBPJPY H4 Chart:

The price which was moving inside the range between 145.61 – 148.15 has now broken out at the bottom of this range has currently reached the 144.07 key level. If this bearish momentum continues we may expect the price to move lower further and reach the 142.85 support level. Whereas if this turns to be a false break and if the momentum changes then we may expect it to move higher and reach the bottom of the range at 148.15.

US Session Technical Analysis May 18th 2017

 

Oil H4 Chart:

In this commodity the price is moving inside a range between 48.28 – 49.72.  Currently the price is at the bottom of the range and If a breakout happens here then we may expect the price to move lower and reach the 47.47 support level. Whereas if the price moves higher and a breakout happens at the top of this range then we may expect the price to move higher further and reach the 50.78 resistance level.

US Session Technical Analysis May 18th 2017

 

Note: As long as the price is moving inside the range and there is no confirmed breakout. Every visit of the top of the range is a sell opportunity and every visit of the price near the bottom of the range is a buy opportunity.

 

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US Session Technical Analysis May 18th 2017
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Yours,

Vladimir

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