Pure Guesswork

A short term impulsive pattern to the downside which began with a base formed last Friday. Looking for 1.2790.

Price distribution since Monday Asian open. Notice the two distributions around the 1.618 and 2.618 levels:

1.3380 x x
1.3370 x x x x
1.3360 x x x x x x x x <-- midpoint (50%) of base
1.3350 x x x x x x x x
1.3340 x x x x x x x
1.3330 x x x x x
1.3320 x x x
1.3310 x x x
1.3300 x x x
1.3290 x x x
1.3280 x x x x x
1.3270 x x x x x
1.3260 x x x x x x
1.3250 x x x x x x x
1.3240 x x x x
1.3230 x x x x
1.3220 x x x x x x
1.3210 x x x x x x x x x x x x x x x x
1.3200 x x x x x x x x x x x x x x x x x x x x
1.3190 x x x x x x x x x x x x x x x x x x x x x x x x <-- 1.618
1.3180 x x x x x x x x x x x x x x x x x x x x x x
1.3170 x x x x x x x x x x x x x x x
1.3160 x x x x x x x
1.3150 x
1.3140 x
1.3130 x
1.3120 x
1.3110 x
1.3100 x x x x x
1.3090 x x x x x
1.3080 x x x x x
1.3070 x x x x x
1.3060 x x x x x x
1.3050 x x x x x x x x x
1.3040 x x x x x x x x x x x x x x x x
1.3030 x x x x x x x x x x x x x x x x x <-- 2.618
1.3020 x x x x x x x x x x x x x x x
1.3010 x x x x x x x x x x x
1.3000 x x x x x x x x
1.2990 x x x x x x x x
1.2980 x x x x x x x
1.2970 x x x x x x
1.2960 x x x x x
1.2950 x x
1.2940 x x