CADCHF | BULLS ARE IN THE MARKET TO GO UP

The trade is trending towards the upside on higher time frames, with a push > exhaustion scenario on the 4-hourly time frame and a bullish engulfing candlestick developing with a nice bounce of MA 20, suggesting bullish power in the market. Hedge funds are indicating buying power for CAD while CHF is being sold off. There is not much news today that might have a huge impact on the trade.