Peter Bain Forex Trading Commentary for Friday September 8, 2006
Forexmentor.com Forex Trading Price Action
Do you get that sinking feeling yet when you look at the euro? Where are the naysayers when you need them? They're all over the place when it's rising. I see nothing but red ink here folks. Last night, looking at the 4 hour (MACD and trigger line below the water line with good angle and separation) and the 15 minute (downtrending 200 EMA and MACD having neutralized), I knew price had only one way to go, and that was DOWN! Is it any wonder that the EUR/USD pair got as low as 2664 this morning? Hmmmmm . Where is the dumb money now? I guess they've given up trying to bid the pair up.
Hiding under a rock I guess. Another pair to watch is the USD/CAD. Methinks it's on the rise (read, the loonie is headed south). I sure hope so. I have a lot of money ridingon that one.
For more on the finer points of trading the forex, please have a look-see at the oodles of good trading stuff in the members area at www.forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/sep0806.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
Do you get that sinking feeling yet when you look at the euro? Where are the naysayers when you need them? They're all over the place when it's rising. I see nothing but red ink here folks. Last night, looking at the 4 hour (MACD and trigger line below the water line with good angle and separation) and the 15 minute (downtrending 200 EMA and MACD having neutralized), I knew price had only one way to go, and that was DOWN! Is it any wonder that the EUR/USD pair got as low as 2664 this morning? Hmmmmm . Where is the dumb money now? I guess they've given up trying to bid the pair up.
Hiding under a rock I guess. Another pair to watch is the USD/CAD. Methinks it's on the rise (read, the loonie is headed south). I sure hope so. I have a lot of money ridingon that one.
For more on the finer points of trading the forex, please have a look-see at the oodles of good trading stuff in the members area at www.forexmentor.com.
See today's chart at: http://www.forexmentor.com/campaign/sep0806.html
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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