Peter Bain Forex Trading Commentary for Thursday April 27, 2006
Forexmentor.com Forex Trading Price Action
It looks like we may have turned the corner on the Swissy, at least for the time being. The daily chart is looking oversold, and the 4 hour and 1 hour charts showed MACD trending up, coming into today's session. Also, COT is showing both camps moving towards equilibrium, and the Big Dogs going ever shorter on the euro. When you see a trend change in the works, it's then time to use an oscillator like Stochastics (STO) to look for oversold conditions. Today saw price reaching for M4 on an M2/M4 day, which only made sense, given that the trend was UP.
See today's chart at: http://www.forexmentor.com/campaign/apr2706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
It looks like we may have turned the corner on the Swissy, at least for the time being. The daily chart is looking oversold, and the 4 hour and 1 hour charts showed MACD trending up, coming into today's session. Also, COT is showing both camps moving towards equilibrium, and the Big Dogs going ever shorter on the euro. When you see a trend change in the works, it's then time to use an oscillator like Stochastics (STO) to look for oversold conditions. Today saw price reaching for M4 on an M2/M4 day, which only made sense, given that the trend was UP.
See today's chart at: http://www.forexmentor.com/campaign/apr2706.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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