Kickstart the FX trading day for Jan 8 w/ a technical look at the EURUSD, USDJPY & GBPUSD

As the North American session begins, the USD extends its upward momentum. The US 10-year yield has climbed to 4.721%, a 3.7% increase, nearing its daily highs. This rise has contributed to reversing earlier premarket gains in US stock markets. The S&P 500 is now down approximately 21 points, while the NASDAQ has dropped close to 100 points in volatile trading. Last week, both indices experienced significant declines despite a late-week rally. Notably, the stock market will be closed tomorrow in observance of the national day of mourning for former President Carter.

In the forex market, the dollar is strengthening across the board, with its largest gain against the GBP, rising over 1.05%. The greenback is also notably higher against the NZD (+0.69%) and the AUD (+0.56%).

In the Kickstart video, I provide a technical analysis of three major currency pairs: EUR/USD, USD/JPY, and GBP/USD.

EURUSD:

USDJPY:

GBPUSD:

This article was written by Greg Michalowski at www.forexlive.com.