Abdul_Light
Long

CAD/CHF - Take advantage of the consolidation

FX_IDC:CADCHF   CANADIAN DOLLAR / SWISS FRANC
Recently CAD/CHF             was in a consolidation zone for quite some time, showing that there's been a moderate level of supply and demand .

earlier on this year CAD/CHF             Broke out of that consolidation zone, showing that the demand has no increased, with supply increasing as well, this confirms that CAD/CHF             Won't be looking to drop back down to that consolidation zone, and in fact wishes to stay above it, also it's not a coincidence that have a significant event area at the resistance of the consolidation level.

The fact that the market came back down to retest that significant event area and reject it with a PA, shows how the market does not wish to drop back to the consolidation price level.
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