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W1 price is on primary bearish with 1077.19 support level to be broken:
- the price is located far below Ichimoku cloud and Senkou Span A line which is the virtual border between the primary bullish and the primary bearish on the chart;
- Chinkou Span line is indicating the bearish breakdown to be continuing;
- "prices are digesting losses after sliding to the weakest level in over five years";
- "break below the 14.6% Fibonacci expansion at 1090.20 exposes the 23.6% level at 10778.10."
If the price will break 1077.19 support level - the bearish breakdown will be continuing up to 1000.00 as a next target.
If not so the price will be ranging between between support level at 1077.19 and resistance level at 1205.74.
Trend:
