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.
| 30 May - 03 June |
weekly
forecast 30 May - 03
June S&P500 Monthly: the past week significantly reduced the bearish outlook of the index. And, although the ADX within this frame has not shown the trend of activity, now there is a threat that the price would reach new Highs. Weekly: the same picture. A significant northern attack with ADX v | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 03 June | Daily chart: The price has almost touched the middle Bollinger band (1.1245), so now there are good reasons for finalization of the lower band (1.1041). ADX is being corrected, referring to the low potential, but .... We remember about Nonfarm Payrolls! Н4: a more localized horizontal range withi | Daily chart: from technical point of view, the price will continue decline to 1.4303 (the lower Bollinger band). But today anything can happen. Resistance is at the middle Bollinger band (1.4504) Н4: we confirm resistance 1.4504 and support 1.4303. A rare unity of two frames in terms of levels. | Daily chart: the price is dropping to the dynamic support - bottom Bollinger band (107.29), from where we expect a pullback towards 109.32 and focus at 111.31. Н4: Bollinger envelopes remain the descending format, so without finalization of 108.00 we are not no waiting for any upward pullbacks. |
| 02 June | |||
| 01 June | |||
| 31 May | |||
| 30 May | |||
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