I suspect a bounce on the bottom horizontal line at 1.18700. That price level has acted as a strong support in the past. The downtrend has been going on for quite some time now and the RSI is oversold. it is time for a retracement. After the bounce is confirmed (candlestick pattern for example) i will be looking to take profits at the 38.2 and 61.8 fibo levels. Those levels are right at previous structure.