Peter Bain Forex Trading Commentary for Thursday August 3, 2006
Forexmentor.com Forex Trading Price Action
Price on the euro is having a hard time penetrating the 2830 level - again, having swooned to approximately 2745 overnight, and then rebounded to retest the right shoulder of the potential head and shoulders pattern forming on the higher level charts. Of course, everybody is waiting for the NFP report due out tomorrow and, of course, news on where interest rates are headed. Further, we need to see where the Big Dogs are positioned with respect to their COT holdings. That data is coming out Friday afternoon at Barrie Lees' site referenced in my course. I still see the trend as down, and I'm going to be either all right or all wrong pretty soon. Oy! The joys of taking a stand for all to see and hear.
See today's chart at: http://www.forexmentor.com/campaign/aug0306.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Price on the euro is having a hard time penetrating the 2830 level - again, having swooned to approximately 2745 overnight, and then rebounded to retest the right shoulder of the potential head and shoulders pattern forming on the higher level charts. Of course, everybody is waiting for the NFP report due out tomorrow and, of course, news on where interest rates are headed. Further, we need to see where the Big Dogs are positioned with respect to their COT holdings. That data is coming out Friday afternoon at Barrie Lees' site referenced in my course. I still see the trend as down, and I'm going to be either all right or all wrong pretty soon. Oy! The joys of taking a stand for all to see and hear.
See today's chart at: http://www.forexmentor.com/campaign/aug0306.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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