Peter Bain Forex Trading Commentary for Friday March 24, 2006
Forexmentor.com Forex Trading Price Action
We're all looking for clues as to when the Swissy will fall out of bed, and head south again. All I can do is offer what I see, as I truly do believe that the commercial sentiment will, once again, come to fruition, and prove that what we're witnessing here is nothing more than a retracement. Common sense trendlines on the dailycharts for the Swissy and the pound reflect that the downtrend and uptrend are in-tact respectively. And, I see positive divergence on the 15 minute for the pound, following divergence. This can be used as a proxy for the Swissy, and lead one to conclude that its top is near. I personally don't see much more upside potential here, nor do I see the pound falling much further. Of course, I've been wrong before, but I have to call it as I see it.
See today's chart at: http://www.forexmentor.com/campaign/mar2406a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
We're all looking for clues as to when the Swissy will fall out of bed, and head south again. All I can do is offer what I see, as I truly do believe that the commercial sentiment will, once again, come to fruition, and prove that what we're witnessing here is nothing more than a retracement. Common sense trendlines on the dailycharts for the Swissy and the pound reflect that the downtrend and uptrend are in-tact respectively. And, I see positive divergence on the 15 minute for the pound, following divergence. This can be used as a proxy for the Swissy, and lead one to conclude that its top is near. I personally don't see much more upside potential here, nor do I see the pound falling much further. Of course, I've been wrong before, but I have to call it as I see it.
See today's chart at: http://www.forexmentor.com/campaign/mar2406a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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