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Consolidation-breakout

Time to break down from consolidation?EURAUD exchange rate for a week is moving in more than 150-pips consolidation, which was formed after setting the maxima at 1.5073. The wider trend remains bullish, but signs of weakening are showing, even in the form of the discussed consolidation. Currently the rate is at the lower limit of this consolidation, which is located at 1.4930. Successful breakdown of this support may involve further price declines. The nearest target for falls in this scenario will be around 1.4800.The alternative in this case is consecutive reflection from support, which will result in continuation of sideways movement.
by Comparic
USDJPY Daily OutlookUSDJPY is consolidating between the 112.00 support zone and 115.00 resistance zone. The box consolidation is clear and have been formed since 2017 first days. We're now close to a breakout and down to 110.00 area? Or we're about to bounce back to the top of consolidation? The next days will clear things out, the way I plan and execute my trades is more on breakout moments. So I'll watch closely today and tomorrow price reaction to this support zone and if it presents me as a break, I'll be there. If price starts to feel strong support and come back at higher leves, I'll be watching aside.
by doctrader
EURJPY: Where Previous Support Turns to Potential ResistanceAfter breaking down from a 2 month consolidation. The EURJPY is now returning to the level that at one point proved to be a significant level of support. After the violation we are now looking for this previous level of structure to potentially flip and act as resistance, offering a bearish trading opportunity with a very positive risk reward. On the right of the chart are the 3 potential levels of profit taking that we discussed ranging from the conservative to the more aggressive. My apologies for being absent, but between a rough start to the trading year and the launch of a new course, sharing on Trading View was a very low priority. Hopefully as things start to slow down towards the spring & summer, I can return to positing more consistently. Either way i appreciate your continued support as we have a GREAT community of traders on this site!
Short
by Akil_Stokes
15
USDCAD Sell the BreakoutUSDCAD has finally approached the area at the top of the channel which will likely provide the best area to short the market. We will be looking to sell the breakout out of this smaller consolidation channel. I have waited for this consolidation to publish an idea, as it would suggest the upturn in price of the last few days seems to be losing all steam as it approaches to upper channel resistance allowing for market bears to re enter. We can expect price to breakout of this channel pretty soon, however you must always wait for confirmation to trade.
Short
by jamiekent123