Kick off the FX trading day on September 5th with a technical overview of EURUSD, USDJPY and GBPUSD

In the September 5th Kickstart video, I look at the three major currency pairs from a technical perspective: EURUSD, USDJPY, and GBPUSD.

Data released this morning painted a mixed picture, with ADP employment change below 100,000 for the first time in three years (weak). On the other hand, initial jobless claims and continuing claims were a bit stronger than expected, while productivity rose from preliminary Q2 data, with unit labor costs rising, which is a positive trend.

Yields are still lower and stocks are still lower in pre-market trading, but off their lowest levels.

The U.S. dollar also initially declined after the ADP report, but regained strength after the release of claims and productivity data.

The video above will outline the technical levels in play on the upside and downside (or downside and upside) price action seen so far in all 3 major currency pairs – as well as key near-term barometers for uptrends and downtrends – as traders consider the risks of tomorrow’s US jobs report at 8:30 AM ET and whether to be in or out.