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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).

2016 EURUSD GBPUSD USDJPY
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Buyers slowly begin to become more active. At least an attempt to unravel the market on their part was, still it has not lead to anything. Maybe today there will be the next attempt of the pair to switch to the impulse growth in the development of wave iii, which as already noted, is likely to be

The considered pair remains under pressure of sellers and meanwhile the situation makes us expect another bearish wave in the future. Probably this drop is caused by development of zigzag, in which at present the wave [c] is being formed and took a proper impulse shape. So, if this assumption is c

We assume that the considered pair continues to develop the wave iii of downward momentum, which, as we repeatedly pointed out, is obviously extended. Currently the decline has stopped, because inside of the mentioned wave iii the fourth corrective wave is obviously being formed. So, if this assum

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