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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

28 March - 01
April
weekly
forecast
28 March - 01
April

S&P500 Monthly:upward correction is nearing its end (Bulls finished the March rally successfully, but in general — we still wait for a downward reversal) . Weekly: we see signs of stop of the upward movement. ​​Around 2090.0 we definitely need to look for the downward entry points Dail

2016 EURUSD GBPUSD USDJPY
01
April

Daily chart: signs of divergence of the oscillator, but it is difficult to recognize the oscillator top to be the the "top". However, overboughtness is here as well, which, along with a close-to-trend ADX play into the hands of the sellers. Let's see how resistance 1.1423 (the upper Bollin

Daily chart: Meanwhile the price stays within horizontal corridor inside the Bollinger envelope (1.4065-1.4481). The medium-term northern preparation is seen here (as confirmed by the tightening bottom Bollinger band). Н4: It seems that on the local level upward movement will get corrected to 1.4

Daily chart: flat corridor within the Bollinger envelope (111.54-114.21, yellow area). So far, no signs telling about possible change of the trend in the trend. Н4: on the local level, the pair retains southern orientation within the bottom Bollinger envelope. Н1: the intraday flat narrow corrid

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