Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is retesting the support 1.11947 level. The break below this level would open a test of 1.10642 near-term. Staying aside for now.
GBPUSD
The pair has bounced from the upside support Pivot 1.2867 level which must hold for the upside extension and the break above 1.2936 level is required for an upside continuation into 1.3120 level. Staying aside for now.
USDCAD
The pair is locked between 1.3420 and 1.3500 level. 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 reached the 0.7198 level and the break above this level would lead to a 0.7228 level retest. The rejection from this level could lead to a 0.7116 Pivot level retest.
USDJPY
The pair is below the 110.695 level of the downside resistance which is now the downside support. It has reached the near-term target 109.315-109.680 zone. Below this zone prolonged downside extension is on the way. Look for the short trade entries in the pair on a pullback into 110 level. No change in view.
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.