I can see here strong rejection after attempt to reach 1.0500 level. Monthly candles showing nice pattern for the third time( Bullish engulfing) and closed above support mentioned above.
I see also two important formations :
1. GAP from daily chart(different broker) is respected almost perfectly with pin candle
2. Shadow of the candle reached Fibonacci level 38.2%
the safe target for me is 1.0800 area, when probably price reach 200 EMA on daily chart.
I would suspect that next wave will reach 1.1000 area in long term.
I see also two important formations :
1. GAP from daily chart(different broker) is respected almost perfectly with pin candle
2. Shadow of the candle reached Fibonacci level 38.2%
the safe target for me is 1.0800 area, when probably price reach 200 EMA on daily chart.
I would suspect that next wave will reach 1.1000 area in long term.