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.
| 27 February - 03 March |
weekly
forecast 27 February - 03
March S&P500 Monthly chart: index approaches new local high on week upper Bollinger band (2384.5). ADX is edging. That can indicate either preparation for new strong mid-term upward shot or reversal preparation. Trend scenario has an obvious advantage over reversal one. Weekly chart: here | ||
| 2017 | EURUSD | GBPUSD | USDJPY |
| 03 March | Daily chart: ADX is growing and trending, so bears may at any moment try to attack lower Bollinger envelope border (1.0470) aiming at 1.0352. The pair is not likely to go up because of the downward trend. Н4: here we see increasing pressure on lower Bollinger envelope (1.0488-1.0550). This corrid | Daily chart: ADX is very aggressive, at any time now the pair may start declining at accelerated pace towards 1.2142. Н4: here we are observing locally oversold market and corrective ADX. Lower Bollinger envelope range is not likely to change during the day (1.2204-1.2338) Н1: more localized cor | Daily chart: strong resistance level around 114.66 (upper Bollinger band)may face buyers' pressure, it is evident because of ADX growth. Н4: beneath we have entry to bullish Over&Under pattern (111.81), considering overbought chart we may see downward correction towards this level. However, w |
| 02 March | |||
| 01 March | |||
| 28 February | |||
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