Forex five most traded pairs technical analysis 4 hour time frame EURUSD, GBPUSD, USDCAD, NZDUSD, USDJPY
EURUSD
On H4 chart we have rectangle formed between 1.05100 and 1.06800 with strong pivot at 1.07495. Selling the pair is preferred on a test of 1.07495 or below 1.0510.
GBPUSD
Is testing strong resistance R1 on H4 chart 1.2747. Selling in this point is preferred only on a break below uptrend line 1.2450. Above 1.2750 target is 1.2900. Negative divergence on RSI.
USDCAD
Is bouncing from a strong support 1.3263 level. Buying here should be against this level. SL on longs below 1.3260. Clear break above 1.34258 would open the door for 1.3587.
NZDUSD
NZDUSD is rejected from pivot 0.7132 and as long is below this pivot we should see a test of 0.7000. Selling here is preferred with a SL above 0.7150.
USDJPY
Is in a flag just above strong pivot 111.340. This would be an ideal buying level, but strong uptrend could continue with a break of 115.
This report is based on a four hour charts (H4) an 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.
