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 1.0813 R2.
GBPUSD
The pair is testing 1.2400-1.2450 zone where the long-term falling trend line is. This is a strong upside resistance and look for short entries for now with SL above 1.2500 targeting 1.2287 Pivot near term.
USDCAD
The pair is holding above the 1.3258 Pivot and as long this level holds near term look for long entries targeting 1.3400 with SL below 1.3250.
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 holding above the 113.065 support. Look for longs here for now with SL below 112.600. The pair needs a break above the Pivot 114.343 for the continuation higher into 115 again.
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.
