In today's trading session, we are closely monitoring CADCHF for a potential buying opportunity around the 0.91650 zone.
Technical Outlook: CADCHF has recently formed a double bottom pattern and is now approaching a key support area near 0.91650. This zone is expected to act as a strong level, providing a solid foundation for a possible reversal or continuation to the upside.
Fundamental Outlook: On the fundamental side, inflation in Switzerland is softening, and the SNB’s monetary policy remains dovish, which should lead to further weakening of the CHF. Meanwhile, inflation in Canada remains a significant concern. With that, the BoC is reportedly leaning towards a 50 bps rate hike, as per expectations from Goldman Sachs, which could strengthen the CAD further.
Keep this setup on your radar and monitor for price action signals around the 0.91650 level. Always remember to trade what you see, not what you think.
Trade safe,
Joe
Technical Outlook: CADCHF has recently formed a double bottom pattern and is now approaching a key support area near 0.91650. This zone is expected to act as a strong level, providing a solid foundation for a possible reversal or continuation to the upside.
Fundamental Outlook: On the fundamental side, inflation in Switzerland is softening, and the SNB’s monetary policy remains dovish, which should lead to further weakening of the CHF. Meanwhile, inflation in Canada remains a significant concern. With that, the BoC is reportedly leaning towards a 50 bps rate hike, as per expectations from Goldman Sachs, which could strengthen the CAD further.
Keep this setup on your radar and monitor for price action signals around the 0.91650 level. Always remember to trade what you see, not what you think.
Trade safe,
Joe
Zlecenie aktywne
Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Free Telegram Group:
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
t.me/+0LGgMsgX9TViOGZk
The 1% Traders Club:
t.me/+dMaf68BK5c5hZDA8
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.