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 1.1150. The clear break above the 1.2337 level is required for the upside continuation. No change in view.
GBPUSD
The pair has bounced from the 1.2750 level of the upside support The Pivot 1.2856 level must hold for the upside extension and the break above 1.2936 level is required for an upside continuation into 1.3120 level.
USDCAD
The pair is bouncing from the 1.3400 level of the support and a pullback into downside 1.3500 level support is possible. Staying aside for now as the pair is in the consolidation triangle. Short trade entries only in the case of the break below 1.3400 level. No change in view.
NZDUSD
The pair has broken above the wedge 0.6950 level. The support for the upside continuation into the near-term target 0.7143 level is the 0.6968-0.7000 zone.
USDJPY
The pair is below the 111.403 level of the downside resistance which is now the downside support. Below this level near-term target is 110.679. SL on the short trade entries above the 111.944 level.
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.