Last week the pair seemed to cross above the "blue" trendline but later it returned below it. Also, a sort of "bearish candle" formed on Friday (it has a long upper shadow, which indicates a "rejection"). Now, the price is still in this small channel but if it breaks dow, it may continue south.
This is SPY (S&P500 ETF). The market is above the thick blue trendline but note that the market has seemed to ignore it recently. Anyway, the market is testing the "green" resistance. If it is breached during the next days, it will be a bullish double bottom. Of course, we can expect some selling first. Please note, however, that this is only my prediction.