A long position was initiated after briefly probing below the prior 2009 low. 4-hour bullish divergence is helping the pair to probe falling wedge resistance.
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- Peter Ruud is an experienced technical analyst with a diverse analytical skill set. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. He has been trading the global markets for over 10 years. His analysis is often featured in Seeking Alpha, Safehaven and thestreet.com.