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. The break below 1.0720 is in the progress for a test of 1.0673 support former 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. The pair is now on the way to test 1.2393 level as long as it is below 1.2533 Pivot. Look for now only for shorts here with SL above 1.2600.
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. The pair is now testing 1.31730 Pivot. A break above this level is required for the continuation higher into 1.3300.
NZDUSD
The pair has broken below the wedge and a new 0.7247 Pivot. As long as it is below this level look only fro short opportunities targeting 0.7182 support near-term. SL should be above 0.7300.
USDJPY
The pair is breaking above the Pivot 114.544 support level. It needs to overcome 115.500 level for an upside target of 116.560. SL on longs here should be below 113.900.
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.
