Peter Bain Forex Trading Commentary for Tuesday July 18, 2006
Forexmentor.com Forex Trading Price Action
Do you have that sinking feeling? Well, the euro sure does. It has dropped like a stone to 2527. Who could have guessed? The Big Dogs have been warning us about this possibility since the earth cooled, or so it seems. With the 200, 144 and 89 EMAS pointing down on the 15 minute chart, and with what would appear to be a downtrend continuation pattern in place, we could experience further price weakness. However, the thing to watch out for is support at the 2500 level, as seen on the 1 hour or 4 hour. If that doesn't hold, then watch out below. The Big Dogs have gone even shorter with their positions since we last met last week. So, where is bottom? We will talk about that in the days to come. For more on picking tops and bottoms, join us in the members area of www.forexmentor.com.
See today's chart at: www.forexmentor.com/campaign/jul1806a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Do you have that sinking feeling? Well, the euro sure does. It has dropped like a stone to 2527. Who could have guessed? The Big Dogs have been warning us about this possibility since the earth cooled, or so it seems. With the 200, 144 and 89 EMAS pointing down on the 15 minute chart, and with what would appear to be a downtrend continuation pattern in place, we could experience further price weakness. However, the thing to watch out for is support at the 2500 level, as seen on the 1 hour or 4 hour. If that doesn't hold, then watch out below. The Big Dogs have gone even shorter with their positions since we last met last week. So, where is bottom? We will talk about that in the days to come. For more on picking tops and bottoms, join us in the members area of www.forexmentor.com.
See today's chart at: www.forexmentor.com/campaign/jul1806a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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