at the european opening) caused a sharp drop in EurAud .
There is an impressive confluence on that
might be tested, which aligns perfectly with an ABCD projection, as is shown in the chart.
50% FIB (3-9dec swing) 1,4825
Kijun Sen= ,14826
1,4940 level is horisontal support and Daily S2 plus
the 38,2 Fib of above mentioned swing.
1,4975 is the lower Kumo Cloud.
But if price instead creates a trap here, perhaps including
a lower low (wash and rinse) and the returns right back up to
take out the C-level at 1,5120, it will be a good sign that upward continuation
is coming. But I really like the ABCD setup here. Very .
This will be a great level to get long.
Higher time frame context:
Daily tf trend is
Weekly tf trend is
Monthly tf trend is Neutral but the running candle is
The Monthly Kijun Sen is at 1,5131.