Latest News 30 June 2006:

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. For more on how to properly read the various indicators, please consult the members library at ForexMentor.com.

See today's Chart at AM Video Review

-Peter R. Bain