Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is on hold by 1.07030 level. Strong upside resistance is 1.0757. Look for short entries targeting 1.0520 level short term and especially in the case of the close below the Pivot 1.0600. SL should be above 1.0757.
GBPUSD
The pair is on hold by 1.2340-1.2400 zone where the long-term falling trend line is. The pair broke below 1.2314 resistance which now acts as downside support. As long as the pair holds below 1.2450 look for target lower 1.2176 Pivot.
USDCAD
The pair has broken above R1 1.32440 which will act as a support now. Next target is 1.3400 as long as the 1.31368 Pivot support holds. The pair is reaching first strong upside resistance 1.34012.
NZDUSD
NZDUSD is testing extreme Fibbo retracement 88.6% level 0.7195 and is showing signs of RSI divergence here. Next resistance is 0.7220 if 0.7200 level fails to hold. No change in view first target down is 0.7080 Pivot level.
USDJPY
Is in process of breaking above the flag and the Pivot 115 level. Look for support in this area targeting 116.317 resistance if the Pivot support holds. Long entries only in case of a Daily close above 115.Long trades to be taken in case of the daily close above the Pivot 115.030 level with SL below 114.300.
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.
