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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

06 - 10 Julho	weekly forecast 06 - 10 Julho Weekly review: S&P500, oil, gold S&P500 Monthly chart: quite well shaped bearish bar has justified our expectations for June regarding downward reversal of the index. The nearest middle-term target is 1964.1 (the middle Bollinger band) Weekly chart:: support from the bottom Bollinger band (2047.9) is still refraining be Mais
2015	EURUSD	GBPUSD	USDJPY
10 Julho	Trading towards both sides Daily chart: all chances to move to O&U (1.1386). Strong resistance 1.1179 (the middle Bollinger band ) is waiting for the pair because ADX/RSI counters the movement. Bounce from this area down and a new decline down to 1.0945 is an equally possible event. Н4: attack of the upper envelope with acti Mais	Daily target for growth - 1.5588 Daily chart: We have received Inside Bar from the bottom Bollinger band . That enables bulls to push the price to the upper band (1.5920) Н4: resistance 1.5588 (the upper Bollinger band ) can cast the pair away to the middle (1.5435) band. From the point, a major upward middle-term wave may emerge Mais	Buy from 121.62, sell from 123.04 Daily chart the pair is actively moving towards the middle Bollinger band (123.04), from where we expect a new downward wave to (the bottom band). Н4: here we have a similar layout. 123.04 – a strong resistance that can be used to open short trades. Н1: breakthrough of the the upper envelope in Mais
08 Julho	Trying purchases around 1.0983	Dense support around 1.5373 -1.5404	Sales are possible around 122.26-122.60
07 Julho	All three frames speak for a further decline of Euro	Waiting the price on 1.5582 to sell	Flat day
06 Julho	Waiting for a new decline of Euro	We shall pass correction and sell after it	Waiting for correction to 123.00 and new decline

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Forex Technical Analysis: Trend potential

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