Hi guys. If the price closes above the resistance zone, it may confirm more of my bullish bias. The preceding candles tried to push the prices downward but lost steam and the bulls have regained strength and rallied all the way up across the pivot line, the crossing of the price above the middle of the channel and the pivot already gave sign that there is an uptrend forming up, plus the fact that the MA is below the price is also a filter for this set-up. Go long @ 108.610 the T.P is 40 pips right where the R1 is placed and the stop is at 40 also, right in the middle of the pivot and S1. This is my first time posting an idea. If there are any suggestion please comment :)
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The RSI might show an oversold signal, and the other bulls might take profit, but when they do, the first level that the bears should break is the middle channel and if they fail most likely that will be our bounce going to our profit target. Risk Manage is always KEY. Have a good day everyone :)