Peter Bain Forex Trading Commentary for Friday June 30, 2006

Forexmentor.com Forex Trading Price Action

We have had quite a rise in price on the euro over the past two days, and what I see happening is nothing more than a continued advance after MACD neutralization on the 15 minute. That said, I still see the overall trend as down. Once the second leg of this process consummates, watch out below. I am not easily fooled by these rallies, fuelled by the dumb money. Looking at the higher level charts (weekly,daily), momentum is clearly to the downside. The 200 EMA on the 4 hour and 1 hour charts is in a downward slope, and price is trying to buck that trend - once again - but to no avail.

See today's chart at: http://www.forexmentor.com/campaign/june3006.html

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Peter Bain Forex Trading Commentary for Friday June 30, 2006

Forexmentor.com Forex Trading Price Action

We have had quite a rise in price on the euro over the past two days, and what I see happening is nothing more than a continued advance after MACD neutralization on the 15 minute. That said, I still see the overall trend as down. Once the second leg of this process consummates, watch out below. I am not easily fooled by these rallies, fuelled by the dumb money. Looking at the higher level charts (weekly,daily), momentum is clearly to the downside. The 200 EMA on the 4 hour and 1 hour charts is in a downward slope, and price is trying to buck that trend - once again - but to no avail.

See today's chart at: http://www.forexmentor.com/campaign/june3006.html

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

Peter Bain Forex Trading Commentary for Thursday june 29, 2006

Forexmentor.com Forex Trading Price Action

Well, this is getting pretty boring. The weekly and daily charts for the euro continue to reflect bearishness, if you look at MACD's behavior and price action. The lower level charts (4 and 1 hour) see price action respecting the 200 EMA - that is, being repelled by it. On the 15 minute, price has been hugging the 89 EMA in this downtrend, offering up opportunities to go short, whenever price tests/touches it in overbought situations - as reflected by Stochastics going overbought. When you know what the overall trend is - in this case, down - it is a simple matter of selling the rallies in the downtrend. Where have you heard that before?

See today's chart at: http://www.forexmentor.com/campaign/june2906.html

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

Peter Bain Forex Trading Commentary for Wednesday June 28, 2006

Forexmentor.com Forex Trading Price Action

The 200 EMA at the 4 hour and 1 hour levels continues to provide a good reference point as to where price is ultimately headed - in the case of the euro, down. My theme continues to be, 'sell the rallies in this downtrend.'

As an example, mid-morning yesterday, we had a rally that was nothing more than another great opportunity to go short. As of the last COT report last Friday, the Big Dogs are still extremely short the euro, although unwinding their positions, as the dumb money drive this move further downward. Don't forget that the commercial traders set up these moves, and then you follow the other camp.

See today's chart at: http://www.forexmentor.com/campaign/june2806.html

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

Peter Bain Forex Trading Commentary for Tuesday June 27, 2006

Forexmentor.com Forex Trading Price Action

Last week on the euro we had a downtrend continuation pattern form, followed by positive MACD divergence. That saw price rise today slightly above the 200 EMA on the hourly chart, which is in a downtrend. That was clue enough that price was headed in the wrong direction - another short opportunity, amongst the many I have been talking about of late. Short the rallies in this downtrend folks.

Pattern recognition and the proper use of technical indicators are things you need to fully appreciate in this business. For more on those aspects of trading the forex,please consult the numerous modules in the members library at ForexMentor.com.

See today's chart at: http://www.forexmentor.com/campaign/june2706.html

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

Peter Bain Forex Trading Commentary for Tuesday June 27, 2006

Forexmentor.com Forex Trading Price Action

Last week on the euro we had a downtrend continuation pattern form, followed by positive MACD divergence. That saw price rise today slightly above the 200 EMA on the hourly chart, which is in a downtrend. That was clue enough that price was headed in the wrong direction - another short opportunity, amongst the many I have been talking about of late. Short the rallies in this downtrend folks.

Pattern recognition and the proper use of technical indicators are things you need to fully appreciate in this business. For more on those aspects of trading the forex,please consult the numerous modules in the members library at ForexMentor.com.

See today's chart at: http://www.forexmentor.com/campaign/june2706.html

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