CADCHF - Bullish Bias
CAD - BULLISH
1️⃣ The Bank of Canada (BoC) held its interest rate unchanged at 0.25% during the April meeting, as widely expected, however, the bank said it will adjust weekly net purchases of Government of Canada bonds to a target of CAD 3 billion from CAD 4 billion, effective the week of April 26.
2️⃣ Canada has continued to step up its mass vaccination programme, which may help the country emerge from the current health crisis earlier.
3️⃣ Canadian retail sales jumped 4.8% in February of 2021, above market expectations of a 4% rise.
4️⃣ Rallied oil prices underpinned the CAD.
CHF - BEARISH
1️⃣ The CHF undermined by higher US Treasury yields.
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Technical
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- We are looking to buy the CADCHF at support on the M15 chart. This is short term trading strategy from Monsun Asia.
- Risk reward ratio is 2:1.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ The Bank of Canada (BoC) held its interest rate unchanged at 0.25% during the April meeting, as widely expected, however, the bank said it will adjust weekly net purchases of Government of Canada bonds to a target of CAD 3 billion from CAD 4 billion, effective the week of April 26.
2️⃣ Canada has continued to step up its mass vaccination programme, which may help the country emerge from the current health crisis earlier.
3️⃣ Canadian retail sales jumped 4.8% in February of 2021, above market expectations of a 4% rise.
4️⃣ Rallied oil prices underpinned the CAD.
CHF - BEARISH
1️⃣ The CHF undermined by higher US Treasury yields.
=====
Technical
=====
- We are looking to buy the CADCHF at support on the M15 chart. This is short term trading strategy from Monsun Asia.
- Risk reward ratio is 2:1.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
Trade closed: target reached
✅ TRADE HAS HIT TP+10 PIPS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.