If engulfing candle goes through it would be a good long BUT I don't see it as a big enough pull back. There was a good pull back earlier that would have been a good entry after the hammer. But now I also see resistance hitting soon. I would wait to see if it breaks this resistance level before going long, or it might get pushed back. I would wait on this to see.
Went short on the this pair after the RSI and Stock indicated it was overbought. I went on the 15minute chart for a day trade. Went well! Target almost hit but decided to take profits at 0.74450, about 3 pips away. Felt some resistance. sometimes better to not be greedy. I am happy with how it turned out.