A descending triangle has formed, this usually shows signs of a bear move, but in this case we could see the price break out the resistance level of the triangle. We would have to wait and see for the direction of this pair and I would be posting regular updates to keep everyone updated about what is happening with this pair. The RSI is at an oversold level meaning the price may make its way back up and if it has gained enough momentum may even be able to break, a break is very likely as the triangle has become very narrow.