Yesterday the euro fell 150 points and there were no obvious reasons for that. It is supposed that it could have happed due to Bundesbank president Jens Weidmann said ECB might slash the key rate. But it looks like a pretext.
Today data on US is only published. At 16:30 GMT+4 the number of Initial Jobless Claims is relealed, it is estimated 349K vs. 346K in the previous week. At 18:00 GMT+4 Philadelphia Fed Index in April, forecast 2.7 against 2.0 in March. US Leading Index (Conference Board) in March is expected 0.1% vs. 0.5% in February.
Technically, the scenario is bearish; on the daily chart the price is under trendline and Kruzenshtern line (blue sliding); on the H4 the price is under the indicator lines as well. The continuation of downtrend is possible after the rate consolidates under the testing level 1.3020, in this case target area 1.2954/68 on the H4 opens. If the rate tests the area, the second target 1.2914/20 opens, it is the support of trendlines on the daily and H4 charts.
Taking into account the price has had chaotic character for the last two days, it is possible to suppose that there is one more jerk upwards before further decline. If the testing level 1.3067 is broken (above the Kruzenshtern line both on the daily and H4 charts), the target 1.3137 opens, the high of April 11.
