The 38.2% retracement of the big 1000 pip rally from .84 to .94 came in around .9025 which is roughly where the market bottomed out at the end of last week. The short-term charts formed a double-bottom at .9000 and the neckline of this formation comes in at .9080. Additionally, the 61.8% retracement of the .90/.9240 rally comes in at .9095, which was the overnight low.
Based on this technical scenario I have taken a long position at .9107 with a s/l for 50% at .9070 and the other 50% at .8970 with an initial profit target at .9400.