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EURAUD - consolidation ahead?

FX:EURAUD   Euro Fx/Australian Dollar
91 0 0
Many EUR related pairs are entering into major consolidation areas on weekly charts and this means that range trading might be ahead of us. Most of the consolidation areas are very large, like here in EURAUD             which makes the case even more difficult.

As the trend is clearly down, short positions should still remain as the way to go but in the same time, one has to be ready for aggressive pullbacks.
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