There is news this Wednesday regarding crude oil inventories. I don't think there will be much movement in the market until then. The last two reports caused price to drop, the "actual" was lower than the "forecast". This report will affect AUD pairs as well, so be cautious. As far as my technical analysis, I'm biased for a buy being that an inverse head and shoulders has formed. I will most likely be holding off on buying until the news is released on Wednesday. The overall trend is still bearish, so this could still possibly be a fake-out.