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 |
| 31 July | The euro continued its deliberate decline. However, it says nothing . It is possible that the wave i of the emerging upward impulse has been formed, whereupon expected decline began because of the development of wave ii. Thus, in the future, if this assumption is correct, we could expect impulse | Pound has stood leaning to the resistance level and does not know what to do next: to break and move on, or surrender to the mercy of bears. It is worth noting that hit this level did not cause the sharp bounce telling about readiness of customers to attack this level again. In addition, the wave | After it has steadily continued its attack against the Japanese currency on the local price level, the dollar has suddenly stopped to move and gave up. It is possible that there are no buyers yet, so the pair is not ready to continue its upward movement Thus, it is possible that in front of us, the |
| 30 July | |||
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| 27 July |
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