The Market Ranger Weekly Chart Analysis and High Probability Set-ups for 18-22 September 2017

GBPUSD (British Pound "Sterling" vs. US Dollar)

Sterling got erratic and gone wild in last week's closing day as Bank of England announced its new interest rate. It hit the highest at 1.3530, this was the highest price so far for this year since it hit the same price last June 2016.

Trend remains to be bullish. Near term support is visible at 1.3286. With that, we can wait for retracements at this level before entering long.

EURUSD (Euro vs. US Dollar)

Euro's performance have been consistent this few month against US Dollar. Trend remains bullish and no sign of reversals yet as with other European currencies.

Euro retested a support level last Thursday at 1.1827, this can be the last retest before going further to a new high. We can clearly see a bullish bias and rejection of that level. We can consider a buying position for this set-up.

AUDUSD (Australian Dollar "Aussie" vs. US Dollar)

Aussie has been contained these past few months. We can see a consolidation from July to September. As for now, Aussie is still in its bullish trend and no sign yet of going down. Traders can take advantage and may consider a buying position at support level 0.7889.

NZDUSD (New Zealand Dollar "Kiwi" vs. US Dollar)

For Kiwi, we can see that there was a consolidation at the strong support level 0.7174. A bearish false break formed last thursday and friday rejecting the support level 0.7174, by which we can speculate a reversal. There is quite a big chance that Kiwi will go up once again. Traders can take advantage of that false break by entering LONG at 0.7258.

We can also see a near-term resistance level of NZDUSD at 0.7406. With that, we can exit, take profit twice the risk and enter long again below that level to gain another 2R target profit.

Disclaimer: This analysis is not certain. These are just high probability set-ups for our favorite currency pairs. With that, proper risk-management is needed in entering a trade as any high probability set-up may lose.

Enjoy Trading! Cheers!