CAD - BULLISH 1️⃣ Governor Macklem added that the BoC is not actively discussing negative interest rates but they are a tool the bank could use in case it needs to do more to tackle economic challenges caused by the pandemic. 2️⃣ CAD gathers strength on impressive Canadian jobs report. Unemployment Rate in Canada declined to 9% in September.
CHF - BEARISH 1️⃣ The State Secretariat for Economic Affairs (SECO) said that Switzerland’s GDP will contract by 3.8% this year amid the severe impact of the Covid-19 crisis 2️⃣ Switzerland's consumer prices are projected to fall 0.7% this year, compared with the previous forecast of a 0.9% decline. 3️⃣ The SNB has been intervening strongly in the foreign exchange market to stop the rise of the highly valued franc to protect the export-orientated economy.
===== TECHNICAL ===== - We're looking to long CADCHF on RBS level + 61.8% fibo retracement area on H1 chart. - CADCHF still in bullish zone.
@edyflex, who said? Just research and filter bias for each currency based on intermarket & sentiment analysis. Then you know what is the best pair to trade on that session.
Update: Closed on 0.69470 (+22 pips)
SunnyHillCapital
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Quick scalp setup, let's see if the key level will hold!