Long idea on CADCHF

30 Des 2014

This pair appears to be pushing for a break-out of a weekly trend-line, previous touches have retraced, whereas we are now consolidating against that same trend-line resistance. The monthly chart shows current price around the 23% level of the all-time high in 2007 at 1.25, to the all-time low in 2011 at 0.71, suggesting more scope to the upside. I am long and may look to add upon a decisive break & hold above 0.8650. If it dribbles away from the consolidation pattern I will move on. Patience may be required on this one by the looks of it.