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 |
| 16 October | The pair continues to take the shape which we expected. After the price left the triangle, it continued to rise, however, it is still not ready to continue to move up. The price went to the correctional decline observed at the moment. It should be noted that this decline is formed within developme | Bulls continue to dominate, although the pair have not continued its growth. Perhaps this is due to the expectation of the help by buyers, which subsequently lead to further growth of the pair. In the meantime, this did not happen and the price froze in the flat, but in the future we expect res | The dollar seems to be artificially held by the sharp drop against the Japanese currency. Every sharp splash is immediately responded by buyout. Impulse decline was halted and the price has vehemently started to play it back. On the basis of this, in the future it may continue to grow, because down |
| 15 October | |||
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| 12 October |
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