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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

17 - 21 October	weekly forecast 17 - 21 October S&P500, Brent, Gold in the weekly review S&P500 Monthly: a continued downward phase of the movement in the direction of the middle Bollinger band (2062.8), which, in turn, can turn to a full downward reversal of the index against a well-expressed divergence of the oscillator. If support 2062.8 is broken, the way to the lower Bolli More
2016	EURUSD	GBPUSD	USDJPY
21 October	Finalization of 1.0894 is expected Daily chart: the lower Bollinger band fell to 1.0894 and now bears are threatening to get deeper. ADX and oscillator are in extreme areas, such a strong pressure will be not so easy to stop. Н4: the inside bearish bar is a strong continuation signal, but local ADX is weak, so we can not exclude an More	Volumes can be distributed down Daily chart: the price is in the middle of the bottom Bollinger envelope (1.1883-1.2581), which hinders from finding enties to any of the directions. But the overall determination is bearish: toward the lower band (1.1883) Н4: at this local frame, the price continues to consolidate within a horizon More	Decline to 103.47 and new growth to Daily chart: bullish momentum is maintained in the direction of the upper Bollinger band (105.46), but ADX is corrective, indicating that there is no trend potential. Support is at the middle band (102.65) Н4: at this local frame, the pair is consolidated within Bollinger envelopes (103.34-104.19) More
20 October	An upward reversal is still expected as the price is falling	Two ways are possible for today	102.51 can be finalized
19 October	Another prick of 1.0950 and an upward reversal	The two ways are possible	A flat day
18 October	Correction towards 1.1056 is on	Corridor 1.2141 - 1.2197	Looking for the upward entries around 103.78 and 103.55
17 October	Looking for upward signals as the pair is falling	Corridor 1.2164 - 1.2251	Accumulation of potential inside the corridor 103.73 - 104.47

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Forex Technical Analysis: Trend potential

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