FX:EURAUD   Euro / Australian Dollar
In a recent and new upward trend a shallow retracement into a support area consisting of a horizontal price zone and the 8 ema . This area falls around the 38.2% Fibonacci retracement region which price has rejected giving a low test bar/bullish pin bar suggesting a long position.

entry - above high of low test bar
stop loss - below low of low test bar
target - at the next resistance level/127.2% Fibonacci extension
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