Peter Bain Forex Trading Commentary for Friday September 1, 2006
Forexmentor.com Forex Trading Price Action
Today's the big day, what with the Non-Farm Payroll report coming out. Technically, we're in a potential downtrend continuation pattern, with MACD having neutralized on the 15minute chart. Surprise, surprise, the NFP report has just come out, and the euro has tanked. Who could have guessed?
Leg two of the downtrend continuation pattern has kicked in. The dumb money are running for cover - fast quick. Of course, yesterday, I was beating the same old drum I've been beating since June - watch out below!
Naysayers be damned. I've taken a lot of heat for remaining on the short side of the euro, but I am in good company - with the Big Dogs, who rule the world, when it comes to the currency markets. Let's wait to see what the COT report has to say later on today. I suspect they will be as short as ever.
For more on what the Big Dogs know that you don't know, that's all waiting for you in the members area at www.forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/sep0106.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Today's the big day, what with the Non-Farm Payroll report coming out. Technically, we're in a potential downtrend continuation pattern, with MACD having neutralized on the 15minute chart. Surprise, surprise, the NFP report has just come out, and the euro has tanked. Who could have guessed?
Leg two of the downtrend continuation pattern has kicked in. The dumb money are running for cover - fast quick. Of course, yesterday, I was beating the same old drum I've been beating since June - watch out below!
Naysayers be damned. I've taken a lot of heat for remaining on the short side of the euro, but I am in good company - with the Big Dogs, who rule the world, when it comes to the currency markets. Let's wait to see what the COT report has to say later on today. I suspect they will be as short as ever.
For more on what the Big Dogs know that you don't know, that's all waiting for you in the members area at www.forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/sep0106.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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