Recently, the price retraced for the second time to the just broken retracement zone 1.0709-1.0677. From the above 4Hour chart, a long position is looming. Unless this equilibrium zone is clear breached to the lower side, that is below 1.0677, I'm long towards 1.0770. I will place my ST slightly below 1.0697 and my TP fixed at 1.0770. I may only reconsider short positions a upon a clear bearish breach below 1.0677.
Margin Trading in the Forex market contains risks and can cause in significant financial losses. Before deciding to trade in the foreign exchange market, make sure that you understand the risks according to your financial experience and knowledge.