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. The first target is 1.02545. Look for short entries on a hard break of 1.0380 or in a 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 retests and lower.
USDCAD
The pair broke 1.3385 Pivot. Looking for support here at 50% Fibo retracement 1.3340 level. If it breaks this level look for long entries around 1.3270.
NZDUSD
NZDUSD is rejected from the Pivot 0.6985 and is extending downside. The 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 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.
