Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is bouncing from the 1.08450 level and is reaching the 1.09327 level again. For the upside continuation, we need to see a break above the key 1.10223 Resistance. Staying aside for now. Long entries could be initiated on a pullback into 1.09300 level with SL below 1.08500.
GBPUSD
The pair is testing the 1.2900 Pivot level. A break above the 1.2956 level is required for the upside continuation. Below 1.2900 level the support is 1.2812. Staying aside because of undefined narrow range without direction.
USDCAD
The pair has been rejected from the 1.3800 level and has broken below the resistance 1.3650 level which is now the downside support. Only the break above the 1.3720 near-term would lead to an upside continuation into 1.3837 level. Below the 1.3650 level, the pair is open to 1.3520-1.3560 zone test. No change in view.
NZDUSD
The pair is bouncing from the 0.6850 level and is breaking above the 0.68719 Pivot level. A break above the 0.6950 is required for the upside continuation.
USDJPY
The pair is testing the 113.600 Pivot level again. The break below this level would lead to a retest of 112.355 the cloud support. Bounce from this level would lead to an 114.329 resistance retest.
This report is based on the four-hour charts (H4) and has an indication of strong resistance, support, and important pivots. It can help you in trading when there is a break of this levels or reaction from them. It will be updated daily around European and NY session overlap.