Peter Bain Forex Trading Commentary for Thursday September 7, 2006
Forexmentor.com Forex Trading Price Action
Well, folks, shameless brag time - it looks like the dumb money may finally be giving up on the euro. As at this writing, the pair is at 2705 - quite a tumble. Could it just be that COT is proving itself right once again? Last night, I took my cue from the daily and 15 minute charts, wherein MACD was displaying bearishness. Sometimes, you have to play around with your various chart levels to get a 'feel' for what's really going on. The bellwether 200 EMA was trending down, and price was bucking that trend. Sure enough, after the London open, price crashed. Who could have guessed? Watch out below. Going down.
See today's chart at: http://www.forexmentor.com/campaign/sep0706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Well, folks, shameless brag time - it looks like the dumb money may finally be giving up on the euro. As at this writing, the pair is at 2705 - quite a tumble. Could it just be that COT is proving itself right once again? Last night, I took my cue from the daily and 15 minute charts, wherein MACD was displaying bearishness. Sometimes, you have to play around with your various chart levels to get a 'feel' for what's really going on. The bellwether 200 EMA was trending down, and price was bucking that trend. Sure enough, after the London open, price crashed. Who could have guessed? Watch out below. Going down.
See today's chart at: http://www.forexmentor.com/campaign/sep0706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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