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Wave analysis

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Wave analysis of the Forex market or Elliott wave principle is the type of technical analysis considering price to be similar to ebbs and flows. All price movements on the Forex market are subject to two types of waves:
- Impulse, or motive, phase – the waves which move price up or down (shown by digits)
- Correction phase: waves that respond to impulse (shown by letters).

2016	EURUSD	GBPUSD	USDJPY
17 June	Impulse decline of the pair The last trading day no bulls neither bears managed seize the initiative. Even though the pair took a strong oscillatory motion in fact remained at the same place.This is caused by a local correction within the frames of the wave iii of the emerging downward momentum. Perhaps today we'll see an imp More	A continued correction Perhaps the price has completed to form the wave 1 of iii downward momentum. At the same time, probably, it is developing the correctional wave 2 of iii. So far, the correction looks unfinished, so in the near future we can expect a continued flat. However, no matter how the situation can develop, More	Double zigzag is still developing The price is slowly slipping down within the framework of the wave [c] of y. It is difficult to say how long the specified wave model will continue to form. Therefore, the situation is either to sell or stay out of the market until the wave frame will be clarified. The price is slowly slipping down More
14 June	Third wave is coming soon	Expectations of drop are still here	The moment of truth
13 June	We still sell the euro	Impulse decline is still on	The price has reached a critical level

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Wave analysis

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