Peter Bain Forex Trading Commentary for Wednesday March 29, 2006
Forexmentor.com Forex Trading Price Action
Looking at the daily charts for the euro and Swissy, I see the uptrend and downtrend intact respectively. We should also expect further upward and downward price movement respectively, with retracements along the way. On the euro, we had a nice reversal in and around the London open today, while price channeled sideways, after its swoon yesterday afternoon. We could experience further weakness from here, but clearly the 4 hour chart is reflecting upward momentum. From a position trading point-of-view, I would suggest that you consider taking a short position on the USD/CHF pair and a long position on the EUR/USD pair - selling into strength, and buying into weakness respectively.
See today's chart at: http://www.forexmentor.com/campaign/mar2906a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Looking at the daily charts for the euro and Swissy, I see the uptrend and downtrend intact respectively. We should also expect further upward and downward price movement respectively, with retracements along the way. On the euro, we had a nice reversal in and around the London open today, while price channeled sideways, after its swoon yesterday afternoon. We could experience further weakness from here, but clearly the 4 hour chart is reflecting upward momentum. From a position trading point-of-view, I would suggest that you consider taking a short position on the USD/CHF pair and a long position on the EUR/USD pair - selling into strength, and buying into weakness respectively.
See today's chart at: http://www.forexmentor.com/campaign/mar2906a.gif
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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