Peter Bain Forex Trading Commentary for Tuesday March 28, 2006
Forexmentor.com Forex Trading Price Action
Well, well, well . the Swissy met big time resistance on the daily chart, and tumbled. Let the freefall begin in earnest. The Big Dogs set up this move, as evidenced by COT data, and all we saw recently was amajor retracement, which turned out to be nothing more than a countertrend move. I see 2590 as a possible downside target, based on my 1-2-3 price projection. Today we saw the commencement of downwardmove, presaged by the 4 hour chart yesterday, and confirmed by a trendline break on the 15 minute and a Death Cross on the 5 minute. Watch out below!
See today's chart at: http://www.forexmentor.com/campaign/mar2806a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Well, well, well . the Swissy met big time resistance on the daily chart, and tumbled. Let the freefall begin in earnest. The Big Dogs set up this move, as evidenced by COT data, and all we saw recently was amajor retracement, which turned out to be nothing more than a countertrend move. I see 2590 as a possible downside target, based on my 1-2-3 price projection. Today we saw the commencement of downwardmove, presaged by the 4 hour chart yesterday, and confirmed by a trendline break on the 15 minute and a Death Cross on the 5 minute. Watch out below!
See today's chart at: http://www.forexmentor.com/campaign/mar2806a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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