Daily chart analysis
The downtrend will continue below EMA50 (1220). A first target in the medium term might be at 1179.41 (Fibo 23%). According to the daily chart, the MACD and the stochastic oscillator confirm the downtrend.
8 hour chart analysis
The MACD indicates a downtrend on the 8 hour chart. The confirmation of a downtrend will be below EMA 200, with a potential target at 1204.45 (Fibo 38%).