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 |
| 26 Februari | Daily chart: ADX is in high activity zone so decreasing correction is going to finish. Н4: Bollinger Envelopes are going to compact in 1.0987-1.1042 range, ADX is passive Н1: we observe local weak ADX, flat corridor is 1.1007-1.1042. Expectation: flat is 1.1007-1.1042 Trading decisions: lookin | Daily chart: bulls convergence oscillator is marked inside bar it has strong correction (or turn over). ADX is strong and envelope expand is marking about saving south potential. Н4: local support zine is 1.3844 (bottom Bollinger line). Resistance is 1.4178 (upper line) Н1: side local range is 1.3 | Daily chart: technical correction is continue in direction of middle Bollinger line (115.21), probably from this level new medium-term decreasing wave will go to 109.50 (bottom Bollinger line). Н4: local north presser is accumulate to 115.21 level across to resistance in 113.30. Н1: it is also no |
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