Weekly and monthly Bullish Engulfings

Jul 9, 2018

We are at the start of a bullish uptrend on weekly after a fine bullish engulfing pattern off Fibonacci support level. Bullish engulfing was also on monthly chart. Look for long entries on smaller timeframes. Price already tested back the middle of monthly engulfing candle. The bottom tails of engulfing patterns act as major supports. First major resistance expected at 85.680 (previous high, Ichimoku cloud and upper Bollinger Band - Monthly resistance at 85.568-85.643). But I believe price will get to the upper band of Hurst channel at about 92.000 as price is making higher highs on weekly. CAD is also strong. PS. My trendlines are after CLOSE (Line chart).