Weekly price is on bearish market condition with below of 100-period SMA and 200-period SMA:
- the price crossed 0.7532 support level on close W1 bar for the bearish to be continuing;
- triangle pattern was broken by price for good possible breakdown of the price movement;
- next support level to be broken is 0.7371 key level;
- Nearest key support level is 0.7371 (W1);
- Nearest key resistance levels are 0.8051 (W1) and 0.8735 (W1).
| Resistance | Support |
|---|---|
| 0.8051 (W1) | 0.7371 (W1) |
| 0.8735 (W1) | 0.7371 (D1) |
- if weekly price
breaks 0.8051 resistance so we may see
the secondary rally within the primary bearish market condition with some possibility to reversal of the price movement to the primary bullish in the end of the year;
- if weekly price breaks 0.7371 support level on close weekly bar (if new weekly bar will be opened below this level) so the primary bearish will be continuing without ranging up to the new 'bottom' to be formed;
- if not so the price will be moved within the channel of 0.8051 and 0.7371.
