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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

16 - 20 May	weekly forecast 16 - 20 May S&P500, Brent, Gold: weekly review S&P500 Monthly: I am still in favor of the idea that decline of the index up to the lower Bollinger band (1926.4) is on. Given weakness of ADX, this forecast will certainly take more than one week to be implemented. Weekly: we also see how strong resistance around 2111.7 is. We are เพิ่มเติม
2016	EURUSD	GBPUSD	USDJPY
20 May	The area of a key resistance is 1.1210-1.1233 Daily chart: the price has accumulated a quite obvious bearish potential, ADX pressure is close to the trend. Ahead there is a strong support area 1.1200-1.1210, which breakdown will boost sellers towards 1.0970 Н4: convergence of oscillator and some oversoldness. At the same time, we notice pre เพิ่มเติม	Looking for Sell options around 1.4644-1.4674 Daily chart: Bulls have closely come to the important resistance 1.4674 (upper Bollinger band), and we see an interest from ADX, which also may be a sign of moving to new Highs. But this trend is not in active zone, which gives sellers some chances (see the blue arrow). Н4: here we see that resi เพิ่มเติม	Key support is 109.72 Daily chart: ADX is very close to the trendline area, so there is a high probability of further growth to the upper Bollinger line (111.97) Н4: here, in turn, ADX parameters are in a very weak area, so, apparently, the growth scenario within the day frame is delayed till the next week. Local res เพิ่มเติม
19 May	Search for Sell options on a possible pullback to 1.1272	Waiting for finalization of 1.4679 after the correction	Purchases around 109.54
18 May	Drop to 1.1272 and then an upward bounce	Sell from 1.4508	Northern preparation
17 May	The main scenario - flat 1.13-1.1335	Looking for sale points	The range 108.43-109.24
16 May	Potential area for sales - 1.1334	Sell from 1.44	Monday is a flat day

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Forex Technical Analysis: Trend potential

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