Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is retesting the support 1.12097 Pivot level. The break below this level would open a test of 1.11351 and 1.10918 near-term. Staying aside for now.
GBPUSD
The pair has reached the support 1.2620-1.2700 zone and the bounce could lead to a 1.2867 Pivot level retest. The break below the 1.2660 is required for further downside extension into the 1.2565 level.
USDCAD
The pair is testing the 1.3400-1.3450 support zone. The bounce from this zone is required for a break above the 1.3472 Pivot level. The near-term break below 1.3400 would open the 1.3350 level retest.
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 0.7155 support 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 110.695 Pivot level with the SL above 111.176 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.