W1 price is floating to be below 200 period SMA
(200-SMA) and 100 period SMA (100-SMA) for the primary bearish market
condition with the secondary ranging within 1.5164 Fibo support level
and 1.5929 Fibo resistance level:
- 38.2% Fibo support level at 1.5454 is going to be crossed by the price from above to below;
- RSI indicator is estimating the ranging market condition to be continuing.
If the price will break Fibo support level at 1.5164 so the bearish market condition will be continuing to be out of ranging zone.
If the price will break Fibo resistance level at 1.5929 from below to above so we may see the reversal of the price movement to the primary bullish market condition.
If not so the price will be ranging between the levels.
Trend: