Forex five most traded pairs technical analysis 4 hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is rejected from 1.05639 Pivot and as long this pivot holds the pair is targeting downside extension. First target is 1.02545. Look for short entries on a hard break of 1.0380 or in case of a bounce higher to 1.0430-1.0480 zone.
GBPUSD
After the wedge break strong downside support is Pivot 1.24760 and target on the downside if pivot holds is 1.2280. Te pair is now below target and as long 1.2300-1.2400 zone holds you should look for short opportunities targeting 1.2000 retest and lower.
USDCAD
The pair bounced from 1.33854 Pivot after retracement lower. As long as this Pivot holds we are expecting 1.3600 retest. SL on longs should be below 1.3385.
NZDUSD
NZDUSD is rejected from the Pivot 0.6985 and is extending downside. First target is 0.6850 followed by 0.6730.
USDJPY
Is breaking higher from a bullish flag. As long as the Pivot 116.349 holds look for long entries targeting 120 and higher. SL on longs should be below 116.
This report is based on a four hour charts (H4) an 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.
