My bias is short here. A lot of traders are waiting for confirmation on daily to enter short now. Let's just wait for confirmation and see if the starts acting as resistance (personally I think it will test the line few times). If the becomes resistance indeed, then it's safe to enter Short position and aim to the previous lows in the support line (1.486 or even 1.394).
On the other hand if the price goes above RED downtrend line and support holds, we will see it rising even more, but I don't see this happening.
Works great! Hope you're in from the retest.