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.
| 30 January - 03 February |
weekly
forecast 30 January - 03
February Monthly chart: ADX still doesn't respond to current bullish pressure, so there is nothing left to do but wait for a touch of possible high and try to detect it. Weekly chart: there is strong resistance in upper Bollinger band region (2316.5). It is likely that a downside correction will start fr | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 01 February | Daily chart: the pair showed distinct bullish momentum but ADX is passive, so we are not expecting the pair to go higher than 1.0840 (upper Bollinger band), despite of the fact that this level may get pressure. Н4: local support level is middle Bollinger band region (1.0721). From this support le | Daily chart: at the moment the pair is within upper Bollinger envelope range (1.2377-1.2700). There is bullish momentum but ADX is very passive. That's why we are expecting flat. Н4: the pair is inside flat corridor of 1.2448-1.2619 (Bollinger envelopes range). Here we also have reversal Over& | Daily chart: the pair still sticks to decline that hasn't shown any fluctuation yet but it might be close. Now the price is trapped inside lower envelope range (112.06-114.73), that's why we would expect new wave of sells after upside rollback. Н4: ADX/RSI represents classical set-up for technic |
| 31 January | |||
| 30 January | |||
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