Forex five most traded pairs technical analysis 4-hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
The pair has reached the 1.0950 level and is retracing from it and could go probably to fill the large gap from the open 1.07300-1.07500 zone. Only short trades are preferred with the SL above 1.0920 targeting 1.07500. Below 1.08810 level the pair could test 1.08111 level. No change in view.
GBPUSD
The pair has broken above the triangle 1.2850 level and is now testing the 1.2900 upside resistance level. The break above this level could lead to a 1.29973 The support zone is 1.2750-1.2800.
USDCAD
The pair has broken above the 1.3520 level and is now reaching the 1.3624 resistance level. Only the daily close above this level will lead to a continuation. The break below 1.3560 will open the 1.3500 level near-term.
NZDUSD
The pair has broken below 0.6920 upside support triangle line and is testing the strong long-term horizontal resistance 0.6850-0.6870 zone. Look for support here for the reversal to the upside. Staying aside for now.
USDJPY
The pair has broken above the cloud 109.70 level and the 111.104 level. The close above this level would lead to an upside continuation. The break below would lead near-term to 109.500-109.700 support zone retest. Staying aside for now.
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.
