Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
The pair is in the middle of the range just above the Pivot 1.06420 level. If there is not a bearish continuation from this level wait for a test of 1.07598-1.08165 zone for a new sell entries. The pair is entering the significantly mentioned zone. Staying aside for now.
The pair is pulling back to 1.2400-1.2450 zone. Look only for short entries for now with SL above 1.2450 level.
The pair is pulling back to the upside support zone 1.3200-1.3240 if reached. Look only for the long entries for now.
The pair has broken below 0.6920 level. The next downside resistance is 0.6840. Any possible pullback into 0.7000-0.7050 should be used for short entries. Staying aside for now. No change in view look only for short entries for now.
The pair has broken below the cloud and is testing the strong support zone 112.600-113. Look for reaction from here. No fresh long trades while the pair is below the cloud 115 level.
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.