October 9th: Canadian employment numbers
During the session on Friday, the only thing that we really have going on will be the Canadian employment numbers, and as a result it’s very likely that the markets will be technical in nature, and as a result we will look at the charts for our trades.
USD/JPY continues to find support below
Looking at the USD/JPY pair, you can see that we initially fell but turned back around and form a hammer. That being the case, the 120 level above is a level that we need to break in order to continue going higher. With that being the case, the market looks as if it is trying to reach towards the 121 handle. Ultimately, this market looks like it has plenty of support below so that every time we pullback, we would be looking for short-term supportive candles in order to serve buying calls again.
FTSE finds plenty of support below
The FTSE initially fell during the session on Thursday, testing the 6300 level. That being the case, we turned back around and formed a hammer. If we can break above the top of the range during Wednesday, we feel the market is free to go back to the 6500 level. Any pullback at this point in time should have plenty of support as well, so we would look for short-term supportive candles in order to serve buying calls as well.
EUR/USD continues to trade in a range
The EUR/USD pair continues to grind its way back and forth between the 1.11 level below, and the 1.13 level above. With that, as we are getting close to the 1.13 level, we believe that a put buying opportunity on short-term charts will more than likely present itself. On the other hand, if we can break above the 1.1350 level, we would be call buyers.
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