CAD/CHF - Take advantage of the consolidation
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.
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.
Penafian
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