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NFP prints at 339k vs estimates of 190k, ave earnings in line at 0.3% MoM

Forex Strategy Video: Big Picture Technicals from USDJPY to SPX to Oil

Forex Strategy Video: Big Picture Technicals from USDJPY to SPX to Oil

John Kicklighter,

Talking Points:

  • High profile technical patterns are taking shape concurrently across asset classes
  • Major breakout/down candidates include GBPUSD, EURNZD, Silver and S&P 500
  • USDJPY, US Oil and the FTSE100 are faced with a call between reversal and trend extension

See how retail traders are positioning in the majors using the FXCM SSI readings on DailyFX's sentiment page.

There are seismic technical patterns developing across the financial markets. And, while the fundamental charge necessary to catalyze these big patterns is lofty; much of the focus via the Strategy Video series lately has fixed on market conditions to lubricate trend or the themes that carry the heft to develop momentum. With a move away from the sparks and accelerants to the big market moves themselves, we look explicitly at the big picture technical developments taking shape in the markets. Among the many options in FX, the USDJPY, GBPUSD, EURNZD and GBPNZD deserve attention. Equities offer high profile head-and-shoulders patterns from the S&P 500 and Nasdaq 100 while the FTSE 100 has pushed key resistance. Among commodities, metals traders should look to silver rather than gold; and oil has overtaken its 200-day moving average for the first time in nearly two years. We isolate the technical view on big setups in today's Strategy Video.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.