On the weekly chart, the moving averages have been crossed to the upside, and the daily is also moving bullishly. The 4-hour chart reflects bullish movement with a bullish engulfing candlestick closure to confirm our entry. There is strong support near the 1.0690 level, which is also covered by our stop loss. We have an obstacle, which is a 1-hour resistance zone, that we really need to break in order to see a further move up. The overall setup looks pretty strong to shoot up.