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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

09 - 13 November	weekly forecast 09 - 13 November Week report on S&P500, Brent, Gold S&P500 Monthly chart: The pair is aimed to upper Bollinger band (2169.5), and then there will be a pivot. ADX/RSI indicator shows it now. Week chart: the same picture, although ADX shows upward direction here. Day chart: local resistance is situated at 2130.4 (upper Bollinger band). Support – More
2015	EURUSD	GBPUSD	USDJPY
13 November	We assess the potential of the upward correction of euro Daily chart: a very intense correctional session with all the signs of this trend. Will bears begin to act this week, or give themselves time to rest even on the weekend? It is a question of the day. In general, potential for correction is limited to the middle Bollinger band (1.1012). The goal of t More	Key resistance is 1.5258 The daily chart: possible target of correction - the middle Bollinger band (1.5318). In general, we continue to expect a medium-term decline of the pound to the bottom band (1.5067) Н4: local resistance at the upper Bollinger band (1.5258) may be strong, because bulls come to this area with weak AD More	Key support is 122.58 Daily chart: potential of correction is still quite large (up to the middle Bollinger band, 121.17), but the upward reversal may occur at any time due to the previously designated strength of the rising edge. Н4: local support from the bottom Bollinger band (122.58) may be irresistible because of w More
12 November	Today, perhaps, respite	Decline from 1.5226 will probably continue	Corrective potential may be limited
11 November	South pressure	Wide range	Deep pool
10 November	The euro’s target is decline for these days	Two possible southern scenarios	There is a high possibility of correction
09 November	Analysis of Friday closure	What wait us on Monday	Premarket view on USDJPY

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Forex Technical Analysis: Trend potential

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