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Forex Technical Analysis: Trend potential

Presented method is the method of technical analysis, which statistics of accuracy is within the range of 60-70%. It is based on three key indicators (Bollinger bands, ADX and RSI) as well as on price levels and price action signals. Analyst Alexey Panasenko is the method's author.

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Forex Technical Analysis: Trend potential

Forex technical analysis helps to answer the questions: How to interpret Forex rates? Buy? Sell? Close a trade? Take profit or let it run for some more time? Will it face reversal or go trhough correction? Accept a loss and “flip over” or wait for some more time? Finally, how to define Forex trend?” All these questions drive a trader (mainly beginning) crazy, if he does not know the answer. By the way, who will dare to claim to know the answer? Forex exchange rates are cruel towards one's self-confidence and arrogant manner.

Nevertheless, it is subject to regularities and daily techical analysis forex. There are plenty of strategies on Forex trend lines. We are not so much interested with the direction of fx rate along major lines (this is interesting too, though) as with the Potential of the Forex trend. The main purpose of our Forex technical analysis report named "Potential of Trend" is to find if current price goes through correction either we face a trend.

Example of Forex technical analysis

11 - 15 May	weekly forecast 11 - 15 May Weekly report. S&P500, Brent and Gold S&P500 Monthly chart: There is a growth towards psychological 2200.0 high, then a big rollback is expected through to 1927.0(Middle Bollinger band). Weekly chart: We can see a pinbar from middle band here, but ADX parameters are very weak, so here a 50% of pinbar rollback is expected to More
2015	EURUSD	GBPUSD	USDJPY
15 May	Euro needs some corrections Day chart: A strong 1.1521 resistance level is a big barrier EURUSD now. New Highs are expected atfer rollback to middle Bollinger band (1.1079) Н4: local resistance at 1.1481 (upper Bollinger band). Internal support level - 1.1307 (low band) Н1: today flat is expected in 1.1367-1.1427 range Expe More	Wait for a rollback from 1.58-1.5845 Day chart: upper Bollinger band shows 1.5845, but it is a very strong resistance for such growth. So, we are waiting for decline to 1.5581 Н4: there is a divergence oscillator, which proves our forecast about correction. An additional indicator for us is the correlation with the Eurodollar chart. More	Buyings from 119.26 to 120.31 Day chart: there is a rise inside sadeways trend, so the price will achieve the upper limit (120.31) Н4: there is local O&U, that's why after a small rollback there will be movement to 120.31. Н1: You can expect to receive almost 100 points profit today, because of a support level at middle Bolli More
14 May	15th figure can apear today	British chess	Wait for up rollback to 118.89
13 May	Buying from 1.1205	Try 58 figure?	Wait for rollback to 119.91 area
12 May	Increase to 1.1293 is possible	Growth to 1.5642-1.5689	Sellings from 120.30 to 119.80

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Forex Technical Analysis: Trend potential

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