Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is retesting the broken Pivot 1.12399 level for the upside extension into 1.13703 level. The support is 1.11947 level. The break below this level would open a test of 1.10642 near-term.
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 bouncing from the 1.3400 level of the support and a pullback into downside 1.3500 level support is possible. 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 support for this upside continuation into the near-term target 0.7198 level is the 0.7000-0.7087 zone. The break below this zone could lead to an extension into 0.70052 level.
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.
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.