Peter Bain Forex Trading Commentary for Thursday June 8, 2006
Forexmentor.com Forex Trading Price Action
For those of you who still think the euro is going to grow to the sky, I hate to disappoint you. The euro is now in a freefall - all presaged by the Big Dogs, with their negative COT sentiment. Sure, there are lots of fundamentals pointing to negativity surrounding the U.S. dollar, but the commercial traders know far more than you or I will ever know about why currencies move the way they do. They trade thousands of lots at a time worth millions of dollars. They can't afford to be wrong. That's why I trend towards being a true blue technician, in concert with commitments of traders data. Unless you're going to become an expert in reading the news, and understanding what it all means, I'd play follow-the-leader, and let the Top Guns point the way.
We have tons of information on trading strategies, tips and techniques in the library at ForexMentor.com to help you get your entry and exit points right.
See today's chart at: http://www.forexmentor.com/campaign/june0806.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
For those of you who still think the euro is going to grow to the sky, I hate to disappoint you. The euro is now in a freefall - all presaged by the Big Dogs, with their negative COT sentiment. Sure, there are lots of fundamentals pointing to negativity surrounding the U.S. dollar, but the commercial traders know far more than you or I will ever know about why currencies move the way they do. They trade thousands of lots at a time worth millions of dollars. They can't afford to be wrong. That's why I trend towards being a true blue technician, in concert with commitments of traders data. Unless you're going to become an expert in reading the news, and understanding what it all means, I'd play follow-the-leader, and let the Top Guns point the way.
We have tons of information on trading strategies, tips and techniques in the library at ForexMentor.com to help you get your entry and exit points right.
See today's chart at: http://www.forexmentor.com/campaign/june0806.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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