Part 1 — Previous Session Review

Yesterday was a small negative session rather than a major setback. We closed 2 trades with 1 winner and 1 loser, finishing at -3.2 net pips across ETHUSD and NZDUSD. That kind of result is not exciting, but it is also not damaging. The key point is that execution stayed controlled and the loss remained contained.

ETHUSD continued to trade with sharp intraday swings, making clean follow-through harder unless entries were very selective. NZDUSD was more orderly, but momentum did not give enough continuation to offset the losing side of the book. Overall, the session was a reminder that flat or mixed conditions require smaller expectations and fast risk control.

Part 2 — Today’s Outlook & Watchlist

The main event today is the Canadian labour market release at 08:30 UTC, with Employment Change and the Unemployment Rate both marked as high-impact risk events. This is a direct volatility trigger for CAD pairs, and the first reaction can be noisy if the two numbers send conflicting signals.

USDCAD is the primary asset on watch. A strong jobs print with a lower or stable unemployment rate could pressure USDCAD lower as CAD buyers step in. A weak employment number or rising unemployment rate would likely support USDCAD, especially if liquidity is thin around the release.

CADJPY is also worth monitoring for a cleaner momentum read after the initial spike. If the data supports CAD strength and risk sentiment is stable, CADJPY may offer continuation potential. If the release disappoints, downside pressure could build quickly.

Our plan is to avoid guessing before the number. The better trade usually comes after the first spread widening and stop-run phase. We want to see direction, liquidity, and whether price can hold beyond the initial reaction before committing risk.