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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

14 - 18 Setembro	weekly forecast 14 - 18 Setembro Weekly review of S&P500, oil and gold Month chart:consolidation on the background of a strong correction in August. There are signs that this correction is not exhausted. As early as next month, the index will be glad to support the lower Bollinger band (1796.0) Week chart: the perfect place for the opening of Sell trade - the midd Mais
2015	EURUSD	GBPUSD	USDJPY
18 Setembro	Adding positions up around 1.1349 The daily chart: a continued uptrend for the euro, and the nearest goal of bulls is the upper Bollinger band (1.1529) Н4: a confident breakdown of the top o envelope. We expect correction to the middle Bollinger band (1.1312) and then buy to 1.1529. Н1:more localized support lies at 1.1349 (middle Mais	Support is at 1.5534, the goal of bulls is 1.5770 The daily chart: The pound is steadily moving to the upper Bollinger band (1.5770), but for some reason, ADX does not respond to this impulse, which creates prerequisites for correction. Н4: expansion of the envelope with active ADX - a good reason for growth to 1.5770. Possible entry point - the Mais	Sales from 120.61 The daily chart: a continued clamping of the pair in the spring at the middle Bollinger band (120.59). Apparently, the price will distribute volumes down towards the lower Bollinger band (118.17) Н4: flat range 119.640-120.06 Н1: a broken bottom envelope. We shall sell after a rollback to the mid Mais
17 Setembro	Still waters	We expect growth to 1.5552	Flat 120.10-120.79
16 Setembro	Support around 1.1233 is expected	Range 1.5310-1.5417	Sell to 119.39
15 Setembro	Expected trading range - 1.1290-1.1363	Another flat day	We expect flat in the range of 120.00-120.55
14 Setembro	North	Flat 1.5393-1.5457	Flat 120.46-120.84

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Forex Technical Analysis: Trend potential

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