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.
| 07 - 11 November |
weekly
forecast 07 - 11
November S&P500 Monthly: a predictable start of drop on a bearish signal, which we discussed last week (inside bearish bar). Support from the middle Bollinger band (2068.2) is very close, but there is a more substantial potential - down to 1934.7 (lower Bollinger band). Weekly: at this local f | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 11 November | Daily chart: the pair is still within the lower Bollinger envelope (range 1.0818-1.0979) and, on the background of weak ADX, we still can not do anything but wait for certainty of markets Н4: a local downward trend. Resistance, where an additional supply of the euro can be found, is at the middle B | Daily chart: ADX is in the trend aggressive zone, upon that bulls are attacking the upper Bollinger envelope. A further upward break might create a strong potential for growth toward 1.3376 in the medium run. Н4: northern potential is also saved, so we wait when the price will reach new highs, and | Daily chart: ADX is corrective, ie, buyers do not have much potential for further upward moves. We can expect a downward correction to the middle Bollinger band (104.39) Н4: resistance is at the upper line of Bollinger (107.56), from where a new wave of upward movement is expected (if bears do not |
| 09 November | |||
| 08 November | |||
| 07 November | |||
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