{"id":436791,"date":"2026-08-24T19:10:36","date_gmt":"2026-08-24T12:10:36","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/kickstart-the-fx-trading-day-for-august-24-key-technical-levels-for-eurusd-usdjpy-and-gbpusd-436791\/"},"modified":"2026-08-24T19:10:36","modified_gmt":"2026-08-24T12:10:36","slug":"kickstart-the-fx-trading-day-for-august-24-key-technical-levels-for-eurusd-usdjpy-and-gbpusd","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/kickstart-the-fx-trading-day-for-august-24-key-technical-levels-for-eurusd-usdjpy-and-gbpusd-436791\/","title":{"rendered":"Kickstart the FX Trading Day for August 24:  Key technical levels for EURUSD, USDJPY and GBPUSD"},"content":{"rendered":"<div>\n<p>The new trading week is underway with the US dollar is modestly higher with the USDCAD moving up the most with a gain of 0.57% after talks with Canada on a trade agreement fell apart.\u00a0<\/p>\n<p class=\"PDq2pG_selectionAnchorContainer\">As a review, the U.S.-Canada trade talks broke down late Friday, reversing optimism that the two sides were close to a framework agreement.<\/p>\n<ul>\n<li>\nThe U.S. moved ahead with 50% tariffs on roughly $20 billion of Canadian goods.\n<\/li>\n<li>\nCanada responded with dollar-for-dollar retaliatory tariffs, set to begin September 8.\n<\/li>\n<li>\nDisagreements over steel, aluminum, autos and lumber helped derail the negotiations.\n<\/li>\n<li>\nBoth sides blamed the other for introducing unacceptable last-minute demands.\n<\/li>\n<li>No new talks are currently scheduled.<\/li>\n<li>\nThe Canadian dollar weakened on the news, pushing USDCAD higher.\n<\/li>\n<\/ul>\n<p>The breakdown puts U.S.-Canada trade tensions back in focus after progress toward a deal earlier last week.<\/p>\n<p>Technically, the USDCAD has moved up to test the 200 day MA at 1.38457.\u00a0 The high reached 1.3846 so far.\u00a0 Moving above is needed to give the buyers more confidence.<\/p>\n<\/p>\n<p>Treasury yields lower across most of the curve, and US stock futures pointing to a softer opening.<\/p>\n<p>In today\u2019s Kickstart video, I take a technical look at the EURUSD, USDJPY and GBPUSD and outline the bias, risk and targets \u2014 three things every trader should be aware of as the new trading week gets underway.<\/p>\n<p>In the forex market, the USD changes vs the major currencies shows.\u00a0<\/p>\n<ul>\n<li>\n<p>EUR up 0.10% at 1.1667<\/p>\n<\/li>\n<li>\n<p>JPY is up +0.15% at 159.17<\/p>\n<\/li>\n<li>\n<p>GBP is up 0.07% at 1.3630<\/p>\n<\/li>\n<li>\n<p>CHF is up +0.10% at 0.8018<\/p>\n<\/li>\n<li>\n<p>CAD is up +0.57% at 1.3842, making the CAD the weakest of the majors<\/p>\n<\/li>\n<li>\n<p>AUD is up 0.11% at 0.7161<\/p>\n<\/li>\n<li>\n<p>NZD is up 0.20% at 0.5962<\/p>\n<\/li>\n<\/ul>\n<p>The US Treasury market is starting the week with yields mostly lower, particularly at the longer end of the curve:<\/p>\n<ul>\n<li>\n<p>2-year: 4.235%, +0.2 basis points<\/p>\n<\/li>\n<li>\n<p>5-year: 4.408%, -1.4 basis points<\/p>\n<\/li>\n<li>\n<p>10-year: 4.704%, -3.3 basis points<\/p>\n<\/li>\n<li>\n<p>30-year: 5.233%, -4.3 basis points<\/p>\n<\/li>\n<\/ul>\n<p>The decline in longer-term yields comes as the market continues to focus on Treasury Secretary Scott Bessent&#8217;s efforts to address elevated yields. Reports this morning say Bessent could potentially tap nearly $1 trillion sitting in the Treasury General Account to help fund additional bond buybacks. Officials have not indicated how much, if any, would be used or when such a move could be announced. The idea is reportedly under consideration and could include purchases of off-the-run securities.<\/p>\n<p>European equities are mixed in early trading. The snapshot shows:<\/p>\n<ul>\n<li>\n<p>German DAX +0.02%<\/p>\n<\/li>\n<li>\n<p>France CAC -0.04%<\/p>\n<\/li>\n<li>\n<p>UK FTSE 100 +0.17%<\/p>\n<\/li>\n<li>\n<p>Spain Ibex +0.47%<\/p>\n<\/li>\n<li>\n<p>Italy FTSE MIB +0.18%<\/p>\n<\/li>\n<\/ul>\n<p>US stock futures, meanwhile, are pointing toward a lower opening:<\/p>\n<ul>\n<li>\n<p>Dow industrial average: -58 points<\/p>\n<\/li>\n<li>\n<p>S&amp;P index: -19.87 points<\/p>\n<\/li>\n<li>\n<p>Nasdaq 100: -154 points<\/p>\n<\/li>\n<\/ul>\n<p>Commodities are also active. Gold continues its surge and is trading up $65.64, or 1.43%, at $4,668.30. Silver is up 0.77% at $69.48, while bitcoin is higher by 0.89% at $78,411. Gold has been supported by the recent decline in the dollar and continued concerns surrounding the Treasury market.<\/p>\n<p>Crude oil is moving in the opposite direction, falling $1.34, or -1.55%, to $85.29 as the market awaits further details on US sanctions against Iran.<\/p>\n<p>With yields, Treasury policy, geopolitics and equities all in play to start the week, the technical levels will help define whether buyers or sellers take greater control in the major currency pairs. In the video, I outline those levels and what needs to happen to shift the bias more bullish or more bearish.<\/p>\n<p>                            This article was written by Greg Michalowski at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The new trading week is underway with the US dollar is modestly higher with the USDCAD moving up the most with a gain of 0.57% after talks with Canada on a trade&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-436791","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=436791"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/436791\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=436791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=436791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=436791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}