Price is heading towards a level of resistance which is also the 0.382 fib level. If the price rejects here we can continue to head downwards. Another scenario would be price breaking this level of resistance and test the trendline which is around the 1.9500 price level and also in between the 0.5 and the 0.618 fib level. If the price rejects in this area then price can continue to head downwards. The final scenario is after breaking the 1.9300 area we come back down for a retest and if this area holds as support then we can make a move to the upside.
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