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 |
| 25 March | Slow sliding of the price has stopped and the movement is smooth in the flat. What does this mean? Most likely, bulls have no potential to resume the upward movement. Flat correction is everything they can do now. Thus, in the future, after wandering in the horizontal flat corridor, the price will | Along with US dollar, Pound decided to go to a local Low, where, we expected a rebound to begin. At present, buyers have more chances, even though recently they have given their positions. Decline had a corrective nature and was formed as the wave 2 of the emerging upward impulse. So, it turns ou | Each new trading day confirms assumption that the downside momentum has been fully formed. The wave [v] was very short, and the wave [i] is the longest. A slight growth was boosted by development of the first wave of the emerging upward movement, we assume that this is a correction model. < p> Buy |
| 23 March | |||
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| 21 March |
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