Latest News 2 August 2006:

Sure looks to me like the euro is running out of gas. Is the dumb money
giving up?

Technically speaking, if you look at the higher level charts
(monthly,weekly, daily), it sure looks like we are putting in a head and
shoulders pattern, wherein price is pretty much at where the right shoulder
should be. Or, are my eyes deceiving me?

Combine that with the Big Dogs being short, and the other
side going progressively that way, could we just maybe be at a top in
this run? I know, I know. The Non-Farm Payroll report is coming out
Friday, and Bernanke is wrestling with his interest rate dilemma. But, if
you let the technicals speak for themselves, what do you think? Should
make for an interesting balance of the week.

Check out the members area at www.forexmentor.com for more on
how to read forex charts properly.

See today's Chart at AM Video Review

-Peter R. Bain