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 |
| 06 November | It is all formed within the expected for this pair so far. I remind you that at the moment supposedly the wave v of [c] of (iv), which takes the form of the final diagonal triangle, is being formed. The transaction on the buy was opened on the rebound from the lower boundary. It is expected that the | The pound did not stand the pressure from sellers and strongly receded from its position, which led to a strong decline and updating the previous minimum. However, there is a chance that this decline was due to the development of the wave with of [ii], the beginning upward impulse. Thus, soon we can | It is all going good for this pair. The US currency is expectedly growing, and updated the previous maximum in price. It should be noted that bulls are not satisfied with it, the upward movement still has a potential for development, so it is too early to look for the points of a reversal yet. Thus, |
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