as you can see thet the price has been moving downside inside a channel and bounced up from 1.27 % of fibo extension based from the first impluse down and since it is forming a flat correction which suggest more down side is likely to happen as to my analysis the c wave of this flat corretion will end at 1804 marked by red doted line on the chart which i expect the price will move down to the next level of the fibo extension 161.2 % marked by green line
alternative scenario if the price breaks up and holds above 1804 this mean that the down movement ( correction) has ended and the up trend will resume and my next target will be 2600