Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is breaking above the crucial 1.10223 level and thus opening the 1.11132 and 1.12049 target on the upside. The support and possible long trades entry zone is 1.09500-1.10000 level.
GBPUSD
The pair is breaking above the 1.2956 level is required for the upside continuation and a test of 1.3049 and 1.3101. Look for the long entries with SL below 1.2950 level.
USDCAD
The pair is below the 1.3580 level and a test of 1.3523 is expected near-term. The downside support is 1.3650 and the break below 1.3520 could lead to a downside extension.
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. Staying aside for now.
USDJPY
The pair is testing the 110.380 level again and a break below this level would lead to an extension lower. Downside support now is 111.388. Look only for short trade entries on a pullback into the 111.385-112.355 zone or on a close below 110.380.
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.