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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

26 - 30 September	weekly forecast 26 - 30 September The weekly review of three contracts S&P500 Monthly: so, after a strong bearish divergence, there are no signs that bulls may seize the initiative. Therefore, we are waiting for continuation of the downward reversal of the index. First, it will move to the middle Bollinger band (2062.8). Later - even lower (to 1908.0, the low More
2016	EURUSD	GBPUSD	USDJPY
30 September	A flat day Daily chart: the pair continues to stay within a horizontal (non-directional) channel inside Bollinger envelopes (1.1142-1.1282) and there is no obvious technical reason for this trend to be changed. Н4: a better shaped flat corridor 1.1192-1.1258 (Bollinger envelopes ). Weak status of ADX confir More	Support is around 1.2937 Daily chart: the lower Bollinger band has slightly dropped and now the target is at 1.2841. ADX does not have trend characteristics, so multi-directional movements are possible. Н4: growing ADX, but the it is still quite far away from the trend area. Therefore, there are two basic ways: a rebound More	A difficult day for traders Daily chart: the pair remains within the bottom Bollinger envelope (99.83-101.83). The bottom envelope was not broken, so there is a probability of move to the upper envelope (to 103.87) Н4: support is at 100.77 (middle Bollinger band), resistance is at 101.83 (the middle daily band). ADX is corr More
29 September	Flat 1.1200 - 1.1240	Two ways for today	Growth to 102.00 and then a downward roll back
28 September	The downward phase of the flat	Flat 1.3001 - 1.3042	An upward bounce from the zone 100.14-100.19
27 September	A downward reversal around 1.1285	Growth to 1.3103	The price may fall below psychological level 100.00
26 September	The trading range for Monday	An upward reversal	Looking for the entry points into Buy trades

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Forex Technical Analysis: Trend potential

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