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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

07 - 11 March	weekly forecast 07 - 11 March Gold, S&P500, Brent in the weekly review S&P500 Monthly: technical correction in the direction of the upper Bollinger band (2156.1) Weekly: local resistance from the middle band (1996.7). In case of a further breakthrough we'll see movement around resistance 2094.0 (red arrow). Otherwise — a downward bounce to the lower band ( More
2016	EURUSD	GBPUSD	USDJPY
11 March	Different directions of trades Daily chart: yesterday was very intense day. ECB has surprised. Not all NFP could be seen. We try to find possibilities for further development of pair. ADX hasn’t got trend zone or turned back. It is strong possibility that we are waiting down pullback to 1.1290 (upper Bollinger line) and mov More	Miss down pullbacks and look for rising signals Daily chart: bulls broke through the middle Bollinger line and has consolidated in upper envelope. It is good indicator for further upper movement in 1.4567 direction (upper Bollinger Line). ADX is rising and located above "30" line, it shows preparing for trend. Pullback is possible to More	Goals of buyers are 114.09 and 114.59 Daily chart: flat continues in wide range 111.99-114.59 (Bollinger Envelopes). ADX is passive it falls that is why this corridor can be trade without touching with sides. You should to be very modest in establishing aims in flat range. Н4: horizontal corridor 112.24-113.97 could be under north lo More
10 March	Decrease to 1.0950	Decrease to 1.4152-1.4174	We are considering sells from 112.80
09 March	Sell into the range of bearish O&U	Looking for downward signals in 1.4225-1.4262 zone	Open short trades from 112.83 to 111.85
07 March	Looking to buying around 1.0975	100-pips potential in 1.4176 zone	Flat in the range 113.35-114.16

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Forex Technical Analysis: Trend potential

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