Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair is on hold by 1.0730 level. Strong upside resistance is 1.0768. Look for short entries targeting 1.0520 level short term and especially in the case of the close below the Pivot 1.0674. SL should be above 1.0813 R2. No change in view the break below 1.0720 is needed for a test of 1.0674 Pivot.
GBPUSD
The pair broke above the falling trend line and above the 1.2588 strong resistance. Failure here just close to long term key level 1.27155 could lead to a retest of 1.2300-1.2400 zone.
USDCAD
The pair has retraced almost 88.6% of the recent swing up. Strong support is 1.3060 level and now a strong upside resistance is 1.3130. Longs here should have SL below 1.3060.
NZDUSD
The pair briefly breached above 0.7300 level and reversed. Testing 0.7239 level of downside resistance. Below this level, next target is 0.7157 Pivot. Taking in mind the pair volatility wait for a clear break below 0.7239 for short entries with SL above 0.7290.
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. RSI (13) is bullish and has positive divergence. No change in view.
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.
