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.
| 2016 | EURUSD | GBPUSD | USDJPY |
| 10 Juni | Day chart: obvious bearish momentum after the "collision" of a pair with the upper Bollinger band. So expect a continued decline in the direction of 1.1236 and 1.1071 (middle and lower bands of Bollinger, respectively). H4: resistance is located at the middle Bollinger band (1.1353), sell from this | Day chart: Flat continues within the range of horizontal Bollinger envelope (1.4322-1.4704). There is no signs of changing this trend. H4: there is a narrower range (1.4417-1.4594). Bouncing from the lower band is almost prepared, so we will see upward movement soon. H1: ADX is located in active zon | Day chart: ADX increasing its activity, so a new phase of decline may begin at any time. Support stands at 106.33 (the lower Bollinger band), resistance - 109.05 (middle band). H4: there is sideways range within Bollinger envelopes (106.33-107.77). You had better consider short positions from the u |
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