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 |
| 21 August | Wedge has been formed! In the previous review we indicated likelihood of the wedge represented by the wave [i] of (iii). At the moment, with a greater degree of certainty we can say that this model has been fully developed taking the form of a converging triangle. So in the future we obviously exp | The pair has frozen in a indecisive confusion. The level has been broken, but what to do with it next? Decline would be silly, so much effort were given to climb through this level. But something is not enough for growth! In general, the wave pattern favors bulls, as it is likely that the pair is | The break down, which was expected by us, has happened, thereby finishing the formation of the wave b of [5]. Now, in the future we may expect resumption of growth within the frames of development of the final diagonal triangle, but to be more confident, we should wait for the first micropulse upw |
| 20 August | |||
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| 18 August |
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