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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.

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 February - 04
March
weekly
forecast
29 February - 04
March

S&P500 Monthly: Bulls will close February more or less successfully, but I can not help feeling that the index is still dropping, cause ADX is getting more active. Weekly: resistance from the middle Bollinger band (1996.7) 1839.1 support (the bottom band). Daily chart: an evident bearish

2016 EURUSD GBPUSD USDJPY
04
March

Daily chart: correction continues in the direction of middle Bollinger line (1.1066) but return in to 50% zone of bulls pin (1.0850) is possible. Н4: as we can see the support is more localizing on 1.8890 level (middle Bollinger line), from this level pair can start rising to 1.1086 Н1: local i

Daily chart: resistance from middle Bollinger line (1.4272) looks very strong so we are waiting for down pullback. Н4: support is on 1.4051 (middle Bollinger line), resistance is on 1.4272 (daily middle line). Н1: local levels of support\resistance are on 1.4149\1.4211. Expectation: growth to 1.

Daily chart : we are observing price movement near the middle Bollinger line (113.60) within the wide flat range 111.16-116.47. Н4: local price is concentrated in the range of upper envelope 113.60-114.70. Н1: corridor is more localized into 113.35-114.01 Expectation: flat 113.35-114.01 Trading

03
March
02
March
01
March
29
February
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