Price broke below the neckline of a larger Head & Shoulders (H&S) pattern is now making a first retest of the break. It also pierced the bottom of a larger Pitchfork defined by April/August-15 low/high and Feb-2017 low. The high in Mar-2020 looks like the culmination of a 3 waves structure, irrespective of if we count from the April-15 or Feb-17 low. So it looks like it's all downhill from here even if I don't exclude that the back test of H&S neckline can go a bit higher, probably not beyond 1.6390 but 1.6350 or below as a more likely turning point. If I'm correct and we break down from here, at some point later I expect a more proper/serious retest of the neckline and pitchfork bottom. If that test is successful, then we will go much much lower compared to where we are today.