Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
The pair is testing again broken wedge and the recent highs 1.0770 level. Next strong resistance is 1.0823 level. This is a key zone now for medium term downside reversal and it needs to hold SL on shorts here above 1.0820. The daily break below 1.0760 Pivot is needed for reversal and downside continuation.
The pair broke below the 1.2532 Pivot and is now retesting that level for possible continuation downside. Shorts here should have SL above 1.2600 level. Downside continuation to be confirmed only on a break below 1.2390 level.
The pair is again at the key support zone 1.3000-1.3030 zone. The pair need to reverse from here for the recovery. Only on the reverse above 1.3060 we could see extended recovery.
The pair reversed and is now retesting again the broken wedge line and 0.7335 resistance. For the reversal from this key levels the pair needs a clear daily break below 0.7247 level.
The pair is testing key 112-112.500 zone again and reaction from this zone is important for the direction in the pair. Long entries only if the pair reverses back above 113.700.
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.