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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 an author of the method.

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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

04 - 08 July	weekly forecast 04 - 08 July Weekly Review. S&P500, Brent, Gold S&P500 Monthly: ADX is falling, so we'll ignore the bullish momentum of the chart. Apparently, the index will face a strong resistance around the upper Bollinger band (2159.6) Weekly: we confirm the non-trend growth and resistance at the upper Bollinger band (2159.6) Daily chart: the เพิ่มเติม
2016	EURUSD	GBPUSD	USDJPY
08 July	Expecting NPF Daily chart: the pair is hovering inside the bottom Bollinger envelope. Range is 1.0974-1.1189. It is unknown if this corridor is enough for today's news. But the impulse above 1.1189 will open the potential for growth toward 1.1389 (the upper Bollinger band and (wow!) - exactly 200 points!), wherea เพิ่มเติม	Trades around 1.30 are possible Daily chart: the bottom Bollinger band has confidently switched to 1.2507, where the magnet for the price can be located. The only thing that can break the bearish outlook are the NPF against US dollar. Н4: a flat corridor inside Bollinger envelopes - 1.2775-1.3245. It is hard to say of this ran เพิ่มเติม	The psychological level 100.00 may drop Daily chart: ADX shows the bearish pressure, so the pair can break the psychological level 100.00 and support 99.91. Н4: resistance is at 101.15 (the middle Bollinger band), support is at 99.91. This area can concentrate demand in US dollar, but it is impossible to say if this demand can cover t เพิ่มเติม
07 July	A rest	Bearish pressure remains	Purchases under the bullish Over&Under
06 July	A continued drop	A deeper drop	Support around 100.59-100.74 is possible
05 July	Waiting for the rebound from 1.1160 down	Only sales! The goal is 1.2933	A drop to 100.59
04 July	Range of the day 1.1081-1.1156	Looking for sales opportunities on growth around 1.3320-1.3352	Yen

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Forex Technical Analysis: Trend potential

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