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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

07 - 11 Novembro	weekly forecast 07 - 11 Novembro Weekly Review. S& P500, oil, gold S&P500 Monthly: a predictable start of drop on a bearish signal, which we discussed last week (inside bearish bar). Support from the middle Bollinger band (2068.2) is very close, but there is a more substantial potential - down to 1934.7 (lower Bollinger band). Weekly: at this local f Mais
2016	EURUSD	GBPUSD	USDJPY
11 Novembro	Market is still looking to South Daily chart: the pair is still within the lower Bollinger envelope (range 1.0818-1.0979) and, on the background of weak ADX, we still can not do anything but wait for certainty of markets Н4: a local downward trend. Resistance, where an additional supply of the euro can be found, is at the middle B Mais	A new high and correction Daily chart: ADX is in the trend aggressive zone, upon that bulls are attacking the upper Bollinger envelope. A further upward break might create a strong potential for growth toward 1.3376 in the medium run. Н4: northern potential is also saved, so we wait when the price will reach new highs, and Mais	The price may choose 1 of the 2 ways today Daily chart: ADX is corrective, ie, buyers do not have much potential for further upward moves. We can expect a downward correction to the middle Bollinger band (104.39) Н4: resistance is at the upper line of Bollinger (107.56), from where a new wave of upward movement is expected (if bears do not Mais
09 Novembro	Support Trump - level 1.1085	Maximum possible correction has already happened	The key resistance zone 103.90-104.09
08 Novembro	Dash on expectations around news and then fall	Limit sales under the pattern O&U	The area of possible supply is 104.90-105.15
07 Novembro	Finalization of 1.1200 and drop	Probability of correction from 1.2560	A strong medium-term signal

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Forex Technical Analysis: Trend potential

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