ChaosTrader63
Long

EUR vs AUD Finding Kijun Support

FX:EURAUD   Euro Fx/Australian Dollar
Here we see again the structure of the market which is breaking bullish fractals so we are overall bullish and not to mention that we are above the Kumo and the 150 EMA. Price is in pullback mode and has pulled back to a very strong previous resistance zone which is located between 1.47704 & 1.46933
This zone as stated was a strong resistance zone and now price is finding support at this level. Also our daily Kijun is running flat at the bottom of this support zone providing added support. I am really looking for price to bounce off of this level and move higher. Look for a nice price action entry and see if we can catch the reversal move higher. If this support zone is violated I do not like the outlook but we do have a support zone located at trade zone 2 which is also in align with the daily Kumo top and the 150 EMA. Finally if price violates both zones our last zone where we might see price reverse would be zone 3 which is in align with the Kumo bottom. We are looking long because the overall market is bullish as price is above the Kumo but a violation of zone 3 would change the market bias to bearish . You can visit me at www.fxatoneglance.com Have a great week of trading and God bless!
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