Peter Bain Forex Trading Commentary for Friday June 2, 2006

Forexmentor.com Forex Trading Price Action

Well, the guessing game goes on, and the question is who will win. Is the euro headed north or south? The Big Dogs would have you believe the latter, and I choose to side with them. The bulls got their way this morning, after the NFP report came out, but all I saw happening was price rising to rest the 2971 level - the high established May 14. Watch out below! Price rose, following that report, after price had consolidated on the 15 minute, and MACD had neutralized. The KTTN system, as described in the am reviews of the week of Feb. 7, would have helped you trade the aftermath of the NFP news, but you still have to be careful, when using that system, in that you have to keep the bigger picture in mind - like the 2971 level, which would invariably provide resistance, and the Big Dog sentiment.

See today's chart at: http://www.forexmentor.com/campaign/june0206.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/

Peter Bain Forex Trading Commentary for Thursday June 1, 2006

Forexmentor.com Forex Trading Price Action

One of our members has been trying to convince me that the euro will grow to the sky - all the way up to 3100. Well, I'm a non-believer in that theory.

Witness today. With all chart levels reflecting bearishness, how could an advance be possible? Last night, the weekly, daily, 4 hour and 1 hour charts were all showing red ink, as reflected by MACD and price action. When you see such evidence, then get ready to get your Stochastics indicator out (an oscillator), and sell the rallies in a downtrend. Such action can better be seen on the 15 minute and, of course, all trades should be executed off the 5 minute to get a better entry point, with limited risk.

The video library at Forexmentor.com contains a wealth of information on trading strategies, techniques and tips.

See today's chart at: http://www.forexmentor.com/campaign/june0106.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/

Peter Bain Forex Trading Commentary for Wednesday May 31, 2006

Forexmentor.com Forex Trading Price Action

The euro is hanging tough in its topping-out process - respecting the support trendline, come resistance line, with MACD showing good angle and separation in its descent to the waterline. You can see that reflected onthe daily chart, and in price action on the 15 minute chart, wherein price has slithered sideways since yesterday's post-news rise. A good 20 pips was to be had after the London open today, by observing, andreacting to, a combination of Bollinger bands and RSI at the 5 minute level. When both read overbought, that was the time to pull the trigger to the short side, and hang in, while price stayed below the center line of the Bollinger bands configuration. For more on all this techno-babble, we have literally tons of information in our library at ForexMentor.com for you to consult.

See today's chart at: http://www.forexmentor.com/campaign/may3106.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/

Peter Bain Forex Trading Commentary for Wednesday May 31, 2006

Forexmentor.com Forex Trading Price Action

The euro is hanging tough in its topping-out process - respecting the support trendline, come resistance line, with MACD showing good angle and separation in its descent to the waterline. You can see that reflected onthe daily chart, and in price action on the 15 minute chart, wherein price has slithered sideways since yesterday's post-news rise. A good 20 pips was to be had after the London open today, by observing, andreacting to, a combination of Bollinger bands and RSI at the 5 minute level. When both read overbought, that was the time to pull the trigger to the short side, and hang in, while price stayed below the center line of the Bollinger bands configuration. For more on all this techno-babble, we have literally tons of information in our library at ForexMentor.com for you to consult.

See today's chart at: http://www.forexmentor.com/campaign/may3106.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/

Peter Bain Forex Trading Commentary for Tuesday May 30, 2006

Forexmentor.com Forex Trading Price Action

The euro is still in the process of topping out on the daily chart. Coming into today's session, the 4 hour chart was clearly in a downtrend, as reflected, not only in price action, but also in MACD. Today's rise to the R2 level was seen as nothing more than a counter-trend move, and a retest of a previous support trendline (now providing resistance). Further, price cruised through M4 - the expected high on this, an M2/M4 day. The run up in price was halted, after we had back-to-back negative divergence on both forms of MACD - histogram and regular. For more on the technical indicators I talk about in this am review, we have an extensive library of information for our members in the private area at forexmentor.com.

See today's chart at: http://www.forexmentor.com/campaign/may3006.html

See latest sample AM Review at: http://www.forexmentor.com/sampler/