If price closes below 1.3450 with conviction, meaning it closes on the low of a large 4 hour bar, then I will take this as a sign of further weakness. In order to get short, I will then need to see a retracement back to the 1.3450 area for a short possibility. The nearest target that I can estimate on a swing trading basis is the 1.3330 area. Again because of the time frame, it can take days to reach this target once in the trade.
Remember this trading methodology requires entry criteria to be met. I am posting this analysis to provide a reference in order to better anticipate where the entry criteria may appear (this is my validation process). Stops also need to be determined at the time of entry.
Consistency in trading is the key to success as a professional. How do you reach this level? You reach it with constant guidance, support and methodology that puts you in a situation where you are ahead of the market. You can read my article about the 3 most important elements of being consistent here: http://www.unconventionaltrader.com/?p=321