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.The retest of broken 1.0720 level is on the way and rejection of this level is needed for another retest of 1.0674 Pivot.
GBPUSD
The pair broke above the falling trend line and is 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 and we need to see a break above this level for more upside. Longs here should have SL below 1.3060.
NZDUSD
The pair briefly breached above 0.7300 level and reversed and has been testing 0.7239 the strong downside resistance. Support for downside reversal now is 0.7290-0.7300 zone. Look only for shorts for now with SL above 0.7310.
USDJPY
The pair has broken above the 114.340 Pivot opening further upside. First resistance is 115.400 and support zone is 114.300-114.700.
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.
