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 1.13511 target on the upside. The support and possible long trades entry zone is 1.10619-1.11368 zone. Look only for the long entries here with SL below 1.10619.
GBPUSD
The pair is in the process of breaking above the 1.2997 Pivot level for the upside continuation and a test of 1.31260 and 1.31779. Look for the long entries with SL below 1.2950 level.
USDCAD
The pair is below the 1.3560 Pivot level which is the downside support now. Near-term target is 1.3400 level with the possible extension into 1.3346 level. Look only for the short trade entries with the SL above the 1.3560 level.
NZDUSD
The pair is breaking the wedge 0.6950 level. Near-term target on the upside is 0.7070 level. The support for the upside continuation is the 0.6968-0.7000 zone. Staying aside because the bounce is in the mature phase. Fresh long trade entries only in the case of the daily close above the 0.7070 level.
USDJPY
The pair is testing the Pivot 111.645 level. Downside extension from here could lead to a test of 109.440 near-term. SL on short trade entries should be above the 112.500 level. The strong downside support is 113.0540 level. No change in view as the pair is being rejected by the Ichimoku cloud.
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.