CADCHF - BEARISH BIAS
Updated
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MARKET OUTLOOK
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CAD- BEARISH
1️⃣ COVID-19 continues to rage across Canada with vaccinations very slow.
2️⃣ PM Trudeau said third wave has taken turn for worse.
3️⃣ Declining oil prices undermined the CAD.
CHF - BULLISH
1️⃣ CHF benefitted by renewed surge in coronavirus cases and a slow pace of vaccination. The US Food and Drug Administration recommended states pausing the use of Johnson & Johnson's coronavirus vaccine after six cases of blood clots.
2️⃣ Traders welcomed a further relaxation in Switzerland’s Covid-19 restrictions despite infections continued to rise gradually as the country has one of the highest rates of complete vaccination in Europe.
3️⃣ Risk-off the supported the safe-haven CHF.
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TECHNICAL
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- We are selling the CADCHF on the resistance area on the M15. 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.
MARKET OUTLOOK
=====
CAD- BEARISH
1️⃣ COVID-19 continues to rage across Canada with vaccinations very slow.
2️⃣ PM Trudeau said third wave has taken turn for worse.
3️⃣ Declining oil prices undermined the CAD.
CHF - BULLISH
1️⃣ CHF benefitted by renewed surge in coronavirus cases and a slow pace of vaccination. The US Food and Drug Administration recommended states pausing the use of Johnson & Johnson's coronavirus vaccine after six cases of blood clots.
2️⃣ Traders welcomed a further relaxation in Switzerland’s Covid-19 restrictions despite infections continued to rise gradually as the country has one of the highest rates of complete vaccination in Europe.
3️⃣ Risk-off the supported the safe-haven CHF.
=====
TECHNICAL
=====
- We are selling the CADCHF on the resistance area on the M15. 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: stop reached
❌ TRADE HAS HIT STOP LOSS-20 PIPS
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