EURUSD forecast using Fibonacci levels

FX:EURUSD   Euro / U.S. Dollar
Hello people,
I am just checking out euro and dollar since a while now, and noticed that after the last downtrend, it retraced just until it reached a notorious Fibonacci level. Basics suggest me it may resume its downtrend till it reaches even lower than the 1.10 target expected by Rabobank earlier this year. I guess all depends on FED and ECB about the direction of the trend.
That's my first time I share any idea about anything and I don't feel like a genius yet, so please feel free to criticize or kill or anything else.
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