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 |
| 30 October | As we previously assumed, it is possible that the considered pair completed development of the wave (iv), which took the form of a plane. After a long decline, there are first signs of a reversal, the pair began to grow. Perhaps there was a reversal and in the future we will have an impulse grow | Finally, the market is telling that it is ready to get out of a protracted correction and begin a long directional movement. As is the case with the euro/dollar, we also expect an impulse growth caused by formation of the [iii] wave of the rising pulse. The price managed to stay at the level of 61 | We assume that the considered pair continues development of correction which apparently takes the form of a simple zigzag. At the moment, this model is clearly represented by the wave [b]. To be finally formed, it lacks one more bearish wave. We expect this particular wave in the near future and i |
| 29 October | |||
| 28 October | |||
| 27 October | |||
| 26 October |
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