On the Daily chart , we see strong bullish reaction of the price indicating strength of the current uptrend .
Yesterday's Daily candlestick was bullish engulfing enhancing the the bullish view .
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As we expected the lower limit of the bearish channel acted as a support pushing the price up to the upper limit of the same channel .
Now the price is testing level 1.6425 (the upper limit of the channel and level 61.8% Fibonatcci) which is a strong resistance on the short term .
4H candlestick closure above this level gives the signal to go LONG with target at 1.6538 then 1.6616 with SL below 1.6325
If price gave bearish reaction towards this level , we can go short as an intraday trading with small target down to 1.6348 with SL 4H closure above 1.6450
