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.
| 19 - 23 October |
weekly
forecast 19 - 23
October S&P500 Monthly: As you can see, the index is working out a very active bullish momentum of the trend line (simultaneosly punching September's inside bar). But ADX/RSI persistently tells us that upward movement is a correction, and thus, we can expect a turn down not higher than on the leve | ||
| 2015 | EURUSD | GBPUSD | USDJPY |
| 23 October | The daily chart: yesterday the price brutally has reached the bottom Bollinger band (1.1093). Envelopes are stable, so the price may back in the direction of the middle band (1.1273). However, we must understand that a breakthrough of bears down is likely. In this case, the target for the euro will | The daily chart: Yesterday bulls had a very good session having reached the upper Bollinger band (120.87), and thus nullified a previous breakout of the bottom envelope. Now some downward correction is very likely to happen, because ADX parameters are not too active Н4: a local breakout of the uppe | The daily chart: another false upward breakout of the IB area was followed by the anticipated decline. ADX remains inactive, so we can expect continuation of the downward movement to the middle Bollinger band (1.5304) Н4: breakout of the bottom envelope also confirms expectations of drop. But local |
| 22 October | |||
| 21 October | |||
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| 19 October | |||
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