Wave marking analysis:
On Friday during the Asian and European sessions the EUR/USD pair completed the wave 2 (or B), resumed the descending movement and by the end of the day had been fixed near the point 1.3080. Such drop of 100 pips from the daily high looks rather strong, so the downside movement is likely to reach the level of figure 30. At the same time it is necessary to mention that in case this movement develops as a correction in relation to the part of the trend of April 15 and May 1, the price can pass though this strong support level again.

Targets for resumption of the descending part of the trend within the wave 3 in C in 3 or C: 
1.3064 – 61.8% of Fibonacci
1.2996 – 100.0% of Fibonacci

Targets for the wave 4 in 3 or C:
1.3087 – 23.6% of Fibonacci
1.3145 – 38.2% of Fibonacci

General conclusions and trading recommendations:
The Friday’s descent points at the continuation of the development of the wave 3 or C. The targets for the current downward movement are seen at 1.3064 and 1.2996 which is equal to 61.8% and 100.0% of Fibonacci. On the smaller level we can observe the wave 3 or C; the wave 2 or B has been completed. The location of the MACD near the zero level indicates that the pair has an opportunity to decline with 1.3000 seen as possible target.