MonsunAsia

CADCHF - BULLISH BIAS

Long
FX:CADCHF   Canadian Dollar/Swiss Franc
CAD - BULLISH
1️⃣ The prevalent upbeat market mood drove flows away from the safe-haven greenback.
2️⃣ Rallying oil prices underpinned the loonie and further contributed to the offered tone.

CHF - BEARISH
1️⃣ Swiss National Bank kept interest rates steady and reiterated its willingness to intervene more strongly in the currency markets to stop the rise of franc.
2️⃣ Equities trade firmly in the green ever since the day started, amid hopes for a US coronavirus aid package and Trump's healthy.

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TECHNICAL
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- We long CADCHF on RBS level + SMA100 area + 61.8% fibo retracement area on H1 chart.
- CADCHF in bullish zone.

Comments

we are currently trapped in the daily range, let's see if we will break :)
Reply
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