Latest News 1 August 2006:

Well, I’m sticking my neck out, and sticking to my guns. I still see
the trend as down on the euro. That said, the bulls and bears are duking
it out, and keeping price pretty much in check above the 2700 level. I
suspect that we will not see much movement until the Non-Farm Payroll
report comes out this Friday. Then, let the fireworks begin.

It might be advisable to stay out of the market at news hour, as that
info. hits the wire. In the meantime, scalping opps. abound, as the
EUR/USD pair is range-bound.

Today, Tuesday, Aug. 1/06 we had that classic turnaround at the
London open, in the form of a trendline break, confirmed by MACD
punching up through its trigger line. The ensuing run was worth an easy 30
pips.

For more on the finer details of trading currencies the Big Dogs way,
check out the wealth of material in the members area at www.forexmentor.com

See today's Chart at AM Video Review

-Peter R. Bain