Kickstart the NA session: A technical look at the EURUSD, USDJPY and GBPUSD to start the day

AI summary

<p class="PDq2pG_selectionAnchorContainer">The U.S. dollar is trading lower against nearly all the major currencies in early trading today.</p><p>The largest decline is against the JPY, with the USDJPY down around 0.40%. The USD is also lower against the EUR, GBP, CHF, CAD and AUD. The NZD is the only major currency against which the USD is trading higher, but only by around 0.10%.</p><p>That makes the JPY the strongest of the major currencies, while the NZD is the weakest.</p><p>In today’s Kickstart video, I take a technical look at the three major currency pairs—the EURUSD, USDJPY and GBPUSD.</p><p>For each pair, I outline the levels that would give either the buyers or sellers more control. The technical levels provide traders with a roadmap. Stay above a key level and the bias becomes more bullish. Move below it and the sellers can take back control. Those same levels also help traders define and limit their risk.</p><p>U.S. stock futures point lower</p><p>U.S. stock futures are trading lower after the major indices declined for the second consecutive day yesterday.</p><ul><li> Dow Industrial Average futures are down 350 points </li><li> S&P 500 futures are down 32 points </li><li> Nasdaq futures are down 168 points </li></ul><p>The continued weakness keeps the market tone defensive as traders look ahead to the U.S. inflation data. The Producer Price Index will be released on Thursday, followed by the Consumer Price Index on Friday.</p><p>European shares are sharply lower