Looking at the chart we can see price forming lower highs and higher lows inside of the triangle. This formation is known as a Descending triangle formation which is usually a bearish formation. Price is being compressed until it busts out of the formation usually to the downside in which case we will be looking for price to move to the 1.26575 area eventually forming a double bottom formation. From an Ichimoku stand point we can see the flat Kijun which lets us know that this market is not trending but rather in a range. The Tenkan is whipsawing back and forth across the Kijun which also is a sign that we do not have a trend. Price has broken to the downside of the Kumo which makes our sentiment bearish. We would like to see the price close below the support level @ 1.30271 before we take a short position. Even then there is the psychological level at 1.30000 which could offer strong support. For any long positions we would need a close above the 1.34586 level to confirm bullish strength. Enjoy and God bless!