Sudden and unexpected news has the potential to break S&R levels. This is what happened on Friday as the news about Trump’s hospitalisation created a quick flurry of JPY buying and CADJPY crashed through our support level at 79.09. This selling subsided rather quickly and the CADJPY pair found support at a rising channel low. In the light of Trump’s illness and the uncertainty possibly created by it, we decided to be careful and brought the targets lower. By reading further you agree with our disclaimer at the bottom of this page and acknowledge that we do not provide investment advice.

In Friday’s Price Action Analysis video we provided new T1 and T2 ranges. Now CADJPY has moved to our T1 range. If you wonder how you could become a better trader, I suggest you will consider joining our live workshops. I will be there answering your questions and helping you to grow as a trader. You can register your seat here.

The willingness to CADJPY on Friday suggests that there’s more upside to come. We don’t, however, know whether the market will retrace first before it’s ready to attempt another rally. Crude oil (WTI) reversed from the support we identified in Friday’s video and has supported CADJPY. 

The NFP number for September, 661K, was much lower than predicted. The analyst consensus had anticipated an increase of 900K jobs but this was missed by a wide margin. This failed to move EURUSD however and as a result of this, the 2h chart now has a higher low which suggests that, unless EU retail sales data disappoints, an intraday rally to the resistance is likely. To take advantage of our analysis and ultra-low trading fees, register for an account and deposit here

Based on several technical factors coming together at 1.1753 – 1.1786 range the area is a key resistance zone. If EURUSD pushes above this range, it moves outside the descending regression channel. Look out for EU Retail Sales, 0.6% expected and the US ISM Non-Manufacturing PMI, 56.3 expected, which is due later on today. For more analysis on this and other markets, go to and subscribe to TIOmarkets YouTube channel.

The next webinar is only less than a day away! DO YOU HAVE your seat booked? If you need help with trade entries and would like to know where to place stops so that they aren’t too far or close, register for the next webinar here. This is a live workshop in which your trading related questions are more than welcome.

Recent macroeconomic data releases

  • US ADP Non-Farm Employment Change, 749K, 650K expected
  • Canadian GDP, 3.0%, 2.9% expected
  • US Chicago PMI, 62.4, 52 expected
  • US Pending Home Sales, 8.8%, 3.1% expected
  • US Core PCE Price Index, 0.3%, 0.3% expected
  • US Personal Spending, 1.0%, 0.7% expected
  • US Unemployment Claims, 837K, 850K expected
  • Canada Manufacturing PMI, 56
  • US ISM Manufacturing PMI, 55.4, 56 expected
  • US Average Hourly Earnings, 0.1%, 0.5% expected
  • US Non-Farm Employment Change, 661K, 900K expected
  • US Unemployment rate, 7.9%, 8.2% expected

Macroeconomic data releases today

  • Australia NAB Business Confidence, -4, -8 previous
  • EU Retail Sales, 0.6% expected
  • Eurogroup meetings
  • US ISM Non-Manufacturing PMI, 56.3 expected

You may access the times and dates in the economic calendar here.

Join now our VIP program at We want you to be able to exploit trading opportunities in financial markets with 0 commission and tight spreads. Take advantage of the best trading account in the industry: Tiomarkets VIP Black. For more details on this truly exceptional offering see here. For more analysis and commentary, visit our YouTube channel where you can find daily market commentary videos to support your learning and growth as a trader. 

Trade Safe!

Janne Muta
Chief Market Analyst

TIOmarkets offers exclusively consultancy-free service. The views expressed in this blog are our opinions only and made available purely for educational and marketing purposes and do NOT constitute advice or investment recommendation (and should not be considered as such) and do not in any way constitute an invitation to acquire any financial instrument or product. TIOmarkets and it’s affiliates and consultants are not liable for any damages that may be caused by individual comments or statements by TIOmarkets analysis and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his/her investment decisions.

The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with any legal requirements for financial analyzes and must, therefore, be viewed by the reader as marketing information. TIOmarkets prohibits the duplication or publication without explicit approval. FX and CFDs are leveraged products. They are not suitable for every investor, as they carry a high risk of losing your capital. Please ensure you fully understand the risks involved.

Janne Muta

Write A Comment


Get our latest market analysis by email, daily