Trend Analysis (Fig. 1).

On Wednesday, from the level of 1.3487 (yesterday's daily close), the market may continue moving downward toward the target of 1.3420 – the 38.2% retracement level (yellow dotted line). Upon testing this level, a price rebound upward is possible toward 1.3457 – the 21-day EMA (thin black line).

Fig. 1 (daily chart).

Comprehensive Analysis:

• Indicator analysis – downward;
• Fibonacci levels – downward;
• Volumes – downward;
• Candlestick analysis – downward;
• Trend analysis – downward;
• Bollinger Bands – downward;
• Weekly chart – downward.

Overall conclusion: bearish trend.

Alternative scenario: On Wednesday, from the level of 1.3487 (yesterday's daily close), the market may continue downward toward the 1.3457 target – the 21-day EMA (thin black line).

Upon testing this line, a rebound upward is possible toward 1.3481 – the 76.4% retracement level (red dotted line).