Looking at the 4 hour chart, we can see the market is putting in this descending formation putting in lower lows, with the putting in higher Lows.
This is known as "Hidden Divergence"
Typically the market will break out to the upside from the so break out traders will be paying close attention to this one.
For more conservative traders, if you drop to the 15, you will see market has put in a DB so you may be waiting for a 2618 or more confirmation that market is likely to reverse.
We will be watching this pair in our live trading room this morning as we drop down our analysis.
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