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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).

2015	EURUSD	GBPUSD	USDJPY
04 December	Foundation was laid The diagonal triangle worked just fine. Having completed this model, the pair strongly and confidently moved up. We assume that it started the wave (v) of the wedge. In the future we expect a small corrective pullback and the pair will continue to move up along the momentum. The diagonal triangle w More	Impulse consolidation of the Pound As we supposed, breakdown of the bottom of the diagonal triangle was false. The price almost immediately returned to the starting point and at the same time updated the local High. Therefore the wave (iii) of the upward momentum is being formed. If this assumption is true, in the near future we c More	US dollar is losing ground Today we can expect as violent price fluctuations as we witnessed yesterday. However, success of other currencies' movement against the US dollar can encourage the Japanese currency to show some result. We can notice that the pair is not ready to continue to grow, and this means that we are waitin More
03 December	Upward momentum	Purchases remain relevant	Development of the wave iii is expected
02 December	In anticipation of the impulse	The first step was made	Perhaps, beginning of the impulse decline
01 December	Impulse is about to emerge	If it's meant to be it will be	Descending impulse wave iii is about to evolve
30 November	Reversal and impulse growth	Expecting reversal	Decline continues

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Wave analysis

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