The market is in an asscending channel, this bullish momentum is confirmed by the creation of higher lows and higher highs. However, on the daily chart the highest closing of higher high candles is within a tight range between the price levels of 1.08113-1.09326, approximately a 20 pip range which shows the market has strong rejection at this price level. Furthermore, signs of a bullish reversal in the channel are the presence of an Inverse Hammer which appears at an area of confluece on the Daily chart with the 200EMA and 50EMA. The 200EMA has acted as a strong level of support on multiple occassions in this current channel. Confirmation of this long trade can be gained if there is a strong bullish candle which breaches the purple area of reistance (on the hourly time frame), which has shown strong resistance on the 4hourly time frame.