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 |
| 06 Enero | As we expected, the pair continued to decline within the frames of assumed zigzag. At this point, the mentioned correctional model is about to be formed, so we have to prepare to open new Buy trades . For a better certainty, we should wait for good entry of the price upward and buy As we expected, | The Pound continues to be stay in the hands of bears. The price, though without much enthusiasm is slowly slipping down. So, development of the wave v of [c] of (ii) has been obviously completed. This wave is the part of the final diagonal triangle. At the moment, we can only wait for the first l | This pair continues development of the descending impulse, in which at the moment the wave iii is apparently being formed. This wave still looks far from being completed, so in the future there will be a good potential for a further impulse decline of the price. So, if this assumption is correct, |
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