Please see attached daily chart. I would like to have your opinion regarding a long trade. The light pink line is a major trend, while the 2 yellow lines are the channel within which price has been moving. The white line is 200SMA and today's close is just above that. Today's candle was not convincingly bullish and there seems to be some (minor) resistance at 1.5910. However I see a good long term trade if price moves up. With a stop at 1.58165 and initial target 1.60200, it looks to me a good reason to go long. Current price is 1.58810.
There are so many good and experienced traders here at forexstreet and I request you all to give me your thoughts - whether from technical/fundamental/price action or mathematical perspective. I am sure there are so others like me who will learn from your expertise.