W1 price is on primary bearish with secondary ranging: key support level is 0.7234 as a good bearish target.
- Descending triangle pattern was fomed by the price with 0.7234 support to be crossed for the bearish trend.
- Tenkan-sen line is below Kijun-sen line of Ichimoku indicator which is indicating the primary bearish market condition in the future.
- Chinkou Span line is located below the price for the possible breakdown.
- Nearest key support level is 0.7234.
- Nearest key resistance level is 0.7795.
If W1 price will break 0.7234
support level on close W1 bar so the primary bearish will be continuing with the breakdown to be started.
If not so the price will be ranging between the levels.
Trend: