Peter Bain Forex Trading Commentary for Tuesday June 13, 2006
Forexmentor.com Forex Trading Price Action
Shameless brag time.......I was right about the topping-out process on the euro, and I was right about MACD neutralization last Friday (June 9/06). Down she went. Selling the rallies in a downtrend has been a profitable strategy ever since the euro topped out as, for at least a week, the euro has been moving steadily down. What we should be on the lookout for now is a retracement. The 4 hour chart is displaying signs of oversoldness, as reflected in MACD bottoming out, and curling up.
For more on trading strategies, tips and techniques, please consult the extensive members library at Forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june1306.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Shameless brag time.......I was right about the topping-out process on the euro, and I was right about MACD neutralization last Friday (June 9/06). Down she went. Selling the rallies in a downtrend has been a profitable strategy ever since the euro topped out as, for at least a week, the euro has been moving steadily down. What we should be on the lookout for now is a retracement. The 4 hour chart is displaying signs of oversoldness, as reflected in MACD bottoming out, and curling up.
For more on trading strategies, tips and techniques, please consult the extensive members library at Forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/june1306.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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