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 |
| 18 September | The euro has decided not to keep its business on the shelf for a long time and continued to grow against the US currency. Thus, presumably formed the wave i of the emerging upward impulse, which will develop the wave [iii]. In the near future we expect decline associated the formation of the corr | So far, this pair has followed our scenario. The pound actively strengthened, having apparently moved under the wave iii of the rising impulse. At the moment, the above-mentioned has been finally formed, so there is a potential for further growth. Thus, in the near future we expect continuation | On yesterday's news (decision on the interest rate), the US dollar weakened, providing currencies in the pair with US dollar with an advantage. The yen also took a sharp decline, thereby having closed my Buy trade with Stop Loss. So far, this decline has not had a notable impact on the considered |
| 17 September | |||
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| 14 September |
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