Long position for the following reasons:
1) 4 days worth of rejections against major support area of 1.0877 with doji and spinning top showing indecision.
2) Break of trendline with retest against 50% fib level and resistance turned support.
3) Forming higher lows and highs after rejection of major support area.
4) Bullish engulfing candle on 4 hour chart just took out 12 hours of selling price action.
5) Crossover of EMA/MA around trendline breakout.
1) 4 days worth of rejections against major support area of 1.0877 with doji and spinning top showing indecision.
2) Break of trendline with retest against 50% fib level and resistance turned support.
3) Forming higher lows and highs after rejection of major support area.
4) Bullish engulfing candle on 4 hour chart just took out 12 hours of selling price action.
5) Crossover of EMA/MA around trendline breakout.
Trade closed: target reached