CAD - BULLISH
1️⃣ The Bank of Canada kept the interest rate unchanged at 0.25%. Additionally, the central bank forecasts positive GDP growth in the first quarter of 2021 as the economy is proving to be more resilient than anticipated to the second wave of the virus and the associated containment measures.
2️⃣ Oil prices, one of Canada’s major exports, steadied around $64 per barrel, near an over 2-year high of $67.98 hit in the beginning of the week.
3️⃣ The economy advanced an annualized 9.6% in Q4, beating market forecasts of 7.5%.
CHF - BEARISH
1️⃣ Stronger-than-expected US jobs data and the pandemic relief bill boosted prospects of the US economic recovery.
2️⃣ Expectations of a robust economic revival fueled by the rapid rollout of vaccines and additional fiscal spending raised investors’ appetite for riskier assets.
3️⃣ Positive risk tone weighing on the safe-haven CHF.
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Technical
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We are buying the CADCHF on RBS + above SMA 50 on the H1 chart.
1️⃣ The Bank of Canada kept the interest rate unchanged at 0.25%. Additionally, the central bank forecasts positive GDP growth in the first quarter of 2021 as the economy is proving to be more resilient than anticipated to the second wave of the virus and the associated containment measures.
2️⃣ Oil prices, one of Canada’s major exports, steadied around $64 per barrel, near an over 2-year high of $67.98 hit in the beginning of the week.
3️⃣ The economy advanced an annualized 9.6% in Q4, beating market forecasts of 7.5%.
CHF - BEARISH
1️⃣ Stronger-than-expected US jobs data and the pandemic relief bill boosted prospects of the US economic recovery.
2️⃣ Expectations of a robust economic revival fueled by the rapid rollout of vaccines and additional fiscal spending raised investors’ appetite for riskier assets.
3️⃣ Positive risk tone weighing on the safe-haven CHF.
=====
Technical
=====
We are buying the CADCHF on RBS + above SMA 50 on the H1 chart.
Trade active
Trade closed manually
✅Close Manually At 0.73800+20 PIPS
Price a few times reject the resistance of 0.73800
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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.