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 |
| 11 June | US dollar is stil heavily pressed by bears. A durable growth that had been emerging almost for the whole year cannot leave without a trace. By all appearance, we now will witness another side of the impulse - in particular, correction: as we know, every action has an equal and opposite reaction. T | Scenario of bulls also applies to this pair. On top of that, the Pound has decided to win back gap between Pound and Euro and started to demonstrate a good pace of growth. It is evident that growth is associated with development of the wave iii of ascending impulse, which by now is not completed. | |
| 10 June | |||
| 09 June |
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