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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.

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

13 - 17
June
weekly
forecast
13 - 17
June

S&P500 Monthly: ADX is developing, but the trend area has not been reached yet, so the situation can be interpreted in two ways. Weekly: a similar situation: ADX has entered the core area. But this activity can be attributed to the two camps: both bearish and bullish. Given the recent weekly p

2016 EURUSD GBPUSD USDJPY
17
June

Daily chart: despite high volatility, the pair retains a horizontal range of 1.1072-1.1383, and taking into account lack ADX's activity, we can not yet rely on trend's distribution Н4: the same flat and better shaped corridor within the Bollinger envelopes 1.1174-1.1310. Н1: On the local level t

Daily chart: Bears have moved the Low down very well. Nevertheless, the number of bars outside of the envelopes do not allow us relying on a continued drop. Therefore, we are waiting for the start of correction to the middle band band (1.4468) Н4: consolidation within Bollinger envelopes (1.4095-

Daily chart: a very active ADX is likely to ingore some oversoldness, which will cause a deeper drop to 102.50 Н4: a similar picture: technical analysis predicts correction, but talking about it is too early, because the ADX is pressing and there are no signs of weakening. A potential "ceili

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