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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

15 - 19 June	weekly forecast 15 - 19 June Weekly review of S&P500, gold and oil S&P500 Monthly chart: Index has been traded inside May's range for the half of the month. The upper Bollinger band was rounded off in the area of 2186.2, so, soon after the end of current consolidation, we wait a downward reversal in July, theoretically, ceiling is on the upper band. Targe More
2015	EURUSD	GBPUSD	USDJPY
19 June	We shall buy around 1.1304 Daily chart: the pair is based in the middle of the range of the upper envelope. At the same time, we have both a correctional dynamics of the middle Bollinger band(1.1159) and ascending potential to the upper band (1.1487). Looking for options to sell. Н4: support is 1.1304 (the middle Bollinger b More	Waiting when 1.5986 is reached Daily chart: a strong dymanics of bulls, but divergence of oscillator also presents so a pullback to the middle Bollinger band (1.5488) is possible. From this point, the pair can get a potential to reach new Highs. Н4: a better shaped support at the middle Bollinger band (1.5744). Intraday resista More	Sell from 123.50 to 122.60 Daily chart: a very unlucky point to open trades and you will need to wait. Н4: dense resistance 123.33-123.50 (две средние Bollinger band) the pair is able to bounce back to 122.60 (the bottom band) Н1: a moderate potential for a local growth to 123.50 Expectations: growth to 123.50 and a pullb More
18 June	Indicating zone to buy euro	1.5894 is ceiling	123.48 is sales area
16 June	Growth to 1.1325	Limit of growth - 1.5651	Buy in the area from 123.45 to 124.85

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Forex Technical Analysis: Trend potential

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