Peter Bain Forex Trading Commentary for Tuesday April 25, 2006
Forexmentor.com Forex Trading Price Action
I'm starting to sound like a broken record. The Swissy is STILL in a downtrend at all levels, representing on-going opportunites to sell rallies in the downtrend. Yesterday's news rally and today's London open rally are just two such examples. There have been many others in the past two weeks. Please take the time to go over the AM Reviews for the weeks of April 11th and 18th. Today, we had price rise into the London open, only to be met by a spinning top and negative divergence on MACD to price. Price was also bucking the overall trend, as reflected in the higher level charts and the relationship of price to the two EMAs - 89 and 144.
See today's chart at: http://www.forexmentor.com/campaign/apr2506.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
I'm starting to sound like a broken record. The Swissy is STILL in a downtrend at all levels, representing on-going opportunites to sell rallies in the downtrend. Yesterday's news rally and today's London open rally are just two such examples. There have been many others in the past two weeks. Please take the time to go over the AM Reviews for the weeks of April 11th and 18th. Today, we had price rise into the London open, only to be met by a spinning top and negative divergence on MACD to price. Price was also bucking the overall trend, as reflected in the higher level charts and the relationship of price to the two EMAs - 89 and 144.
See today's chart at: http://www.forexmentor.com/campaign/apr2506.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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