Two possibilities for long in red and blue
Fundamentally
Euro - With the proposal of 750billion fund to aid the EU countries, hopes on the economic relieve and also covid progress pushes euro strength.
Chf - With the positive feedback on the vaccine, market are more positive and thus reduces the fear and safe haven currencies.
Risk
If the US-China issues tilted to negative, it might trigger the safe currencies thus making this trade invalid
Fundamentally
Euro - With the proposal of 750billion fund to aid the EU countries, hopes on the economic relieve and also covid progress pushes euro strength.
Chf - With the positive feedback on the vaccine, market are more positive and thus reduces the fear and safe haven currencies.
Risk
If the US-China issues tilted to negative, it might trigger the safe currencies thus making this trade invalid