Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair has reached the 1.0950 level and is retracing from it. The daily close above this level is required for the upside continuation. The daily close below 1.08900 could lead to a test of 1.08311. Staying aside for now.
GBPUSD
The pair has broken above the 1.2850 level and is now testing the 1.2900 upside resistance level and also the Pivot. The clear break above 1.2950 level could lead to a 1.30440 test near-term.The support zone is 1.2750-1.2800. The break below 1.2850 could lead to a 1.2715 level retest near-term. No change in view.
USDCAD
The pair has broken above the 1.3650 level and is testing the strong resistance 1.3700 level. The pair could go for the retest of the Pivot 1.3600 level near-term. Staying aside for now.
NZDUSD
The pair has broken below 0.6900 level again and is going for the test of 0.6800-0.6850 zone again. Staying aside for now because the pair is at the strong support.
USDJPY
The pair is testing the 112.500-113 zone and also has formed an ascending wedge. The rejection here would lead to a downside reversal and a retest of 110.500 level near-term. The break above the upside resistance 113.270 would lead to an upside continuation.
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.
