Peter Bain Forex Trading Commentary for Wednesday March 15, 2006
Forexmentor.com Currency Trading Price Action
The two most important things to talk about today are the Aussie and Swissy, from a position trading point-of-view. The Big Dogs are extremely long both currencies, with respect to commodities futures commitments-of-traders data (read, COT). Since this info. is a proxy for the forex, it is reasonable to expect that the AUD/USD pair will continue to go up (but not in a straight line), and that the USD/CHF pair will continue to experience weakness. Here, I am talking about taking positions off the daily chart, in either case. You have to exercise sound technical analysis to get your entry point right. It's always wise to buy weakness in an uptrend, and sell strength in a downtrend. It's called Buying the Dips in an Uptrend and Selling theRallies in a Downtrend.
See today's chart at: http://www.forexmentor.com/campaign/mar1506.html
See sample AM Review at: http://www.forexmentor.com/sampler/
The two most important things to talk about today are the Aussie and Swissy, from a position trading point-of-view. The Big Dogs are extremely long both currencies, with respect to commodities futures commitments-of-traders data (read, COT). Since this info. is a proxy for the forex, it is reasonable to expect that the AUD/USD pair will continue to go up (but not in a straight line), and that the USD/CHF pair will continue to experience weakness. Here, I am talking about taking positions off the daily chart, in either case. You have to exercise sound technical analysis to get your entry point right. It's always wise to buy weakness in an uptrend, and sell strength in a downtrend. It's called Buying the Dips in an Uptrend and Selling theRallies in a Downtrend.
See today's chart at: http://www.forexmentor.com/campaign/mar1506.html
See sample AM Review at: http://www.forexmentor.com/sampler/
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