The bullish correction in the pair may have left the price oversold on the 4-hour chart.
A bearish cross has formed on the Slow Stochastic Oscillator, indicating the potential for the price to move lower in the near term. Also the 7-day RSI has moved into the oversold region, forming what looks to be one top in a double top pattern. Traders may want to wait for the RSI line to break below the 70 level to go short. This could be a good opportunity for traders to get back into the market with the long term downward trend.
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