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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

29 June - 03 July	weekly forecast 29 June - 03 July Weekly review of S&P500, gold and oil Monthly chart: we had been anticipating this decline and now the index may drop down to the middle Bollinger band (1948.0) Weekly chart: the pair is squeezed 2048.7 and 2134.6. ADX is passive and so this week we don't wait it under 048.7. Day chart: Since bears work here, a new decline is pr More
2015	EURUSD	GBPUSD	USDJPY
03 July	Waiting for growth to 1.1232 Daily chart: the bottom Bollinger band withstood, ADX is active enabling bulls to move up to 1.1386, where we still wait our entrance down to the middle-term movement of euro to 1.07-1.08 based on the pattern O&U. Н4: As we see, here ADX is weak, so we are waiting for a strong resistance around the More	Preparing to grow to 1.5767 Daily chart: the middle Bollinger band has refrained bears yesterday which enables bulls to attack up to the upper band (1.5960). Now sellers need to break yesterday's Low to claim for a new decline (marked by the black arrow). Н4: ADX/RSI, can be a sign of one more downward wave to 1.5556, from More	Waiting for decline to 122.10 Daily chart: yesterday brought bears' inside bar from the middle Bollinger band, which tells about readiness of the chart to decline down to the bottom Bollinger band (122.10) Н4: one more return to the upper Bollinger band (123.51) is probable. Н1: Narrowed Bollinger envelopes anticipate impulse More
02 July	Support is expected in the area 1.10-1.1029 is expected	Bearish pressure	Waiting signals for action
01 July	ADX shows trend!	We should sell from 1.57	Waiting when the pair will grow to 123.87
30 June	In short-term run, markets believe in Euro	Flat 1.5695-1.5758	Range 122.13-122.94

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Forex Technical Analysis: Trend potential

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