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 1.11132 and 1.12049 target on the upside. The support and possible long trades entry level is now 1.10223.
GBPUSD
The pair has bounced from the 1.2900 Pivot level. A break above the 1.2956 level is required for the upside continuation. Below 1.2900 level the support is 1.2812. Staying aside because of undefined narrow range without direction.
USDCAD
The pair has been rejected from the 1.3800 level and has broken below the resistance 1.3650 level which is now the downside support. Only the break above the 1.3720 near-term would lead to an upside continuation into 1.3837 level. Below the 1.3650 level, the pair is open to 1.3520-1.3560 zone test. No change in view. Look for short entries targeting 1.3450-1.3500 zone with SL above the 1.3710 level.
NZDUSD
The pair is bouncing from the 0.6850 level and is breaking above the 0.68719 Pivot level. A break above the 0.6950 is required for the upside continuation. Staying aside for now.
USDJPY
The pair is below the Ichimoku cloud making the case for the bearish reversal. The break below 112.350 will lead to an 111.388 level retest. Look for short entries on a break below this level or on a pullback into 113.360 Pivot.
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.