Forex five most traded pairs technical analysis 4 hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
On H4 chart we see the pivot 1.7495 is holding the pair. Next upside resistance is 1.09810 but we do not expect to be reached and should be looked for shorts on a bearish set up.
GBPUSD
Is testing strong resistance R1 on H4 chart 1.2747. Selling in this point is preferred only on a break below uptrend line 1.2450. Above 1.2750 target is 1.29442 next resistance. Negative divergence on RSI.
USDCAD
Is bouncing from a strong support 1.3263 level. Buying here should be against this level. SL on longs below 1.3260. Clear break above 1.34258 would open the door for 1.3587. Today’s NY session trading will give trading opportunity.
NZDUSD
NZDUSD is rejected from pivot 0.7132 and as long is below this pivot we should see a test of 0.7000. Selling here is preferred with a SL above 0.7150.
USDJPY
Is still in a flag just above strong pivot 111.340. This would be an ideal buying level, but strong uptrend could continue with a break of 115. Longs on a pivot retest or a break above 114.700.
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.
