This might be a possible reversal on this pair. the pair made a new higher low when retesting the demand area and ultimately forming the left shoulder. This was followed by a rally which could be heading to the -27% of the Fib level. At that point, a close observation on the candlestick
pattern formation is vital as it will indicate that the market is ready to decline breaking the uptrendline and testing it to form the right shoulder. A break and close below the neckline should result in futher decline of the market.