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.
| 04 - 08 January |
weekly
forecast 04 - 08
January S&P500 Monthly: ADX still has a "December" character. The first week of the year must be taken for determination. But there is a possibility that correction will receive the potential for decline to 1864.9 (the bottom Bollinger band) Weekly: horizontal envelopes, ADX is going through cor | ||
| 2016 | EURUSD | GBPUSD | USDJPY |
| 06 January | Daily Chart: ADX continues to gain momentum, so we expect decline of the euro to to continue. Н4: local support at 1.07, there may be some pullback and turbulence, but ADX is also active, so it is very likely that bears will carry break the 6th figure. Н1: local clamping within the corridor 1.0 | Daily chart: expressed bearish pressure. The bottom Bollinger Band accompanies drop and so far the pair has not touched the bottom. Deeper decline. Н4: the same situation. Local support at 1.4616 can theoretically cause a little correction for the pair, but on the whole we can not consider such s | Daily chart: trending bearish pressure from ADX. Н4: we notice bullish convergence of the oscillator and support in the area of 118.25. The price can get corrected upwards in the direction of the middle Bollinger band (118.89, 119.57). Н1: also well-expressed expressed bullish convergence of t |
| 05 January | |||
| 04 January | |||
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