Bullish Crab on 4H AUDUSD

31 Jan 2014

The Aussie just broke out of the Bearish Pennant, after a week of trading in the 0.8822 to 0.8680 range. If we see a move lower, I believe we should see the 0.8550 level where the PRZ of the Bullish Crab is located. That would be a good level to go long on the Aussie, since the market should be pretty exhausted and over extended to the downside.