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 |
| 29 May | Euro is holding off its active actions so that it will be better consolidated against US currency. Though this passive behavior does not cancel the scenario according to which we expect development of the wave [iii]. It is quite possible that bulls need one proof, either they watch for and gather | This pair also did not present any notable changes of its movement and is still in correction. It is obvious that the wave [c] of ii has not been finished yet, but it is almost there. Therefore, in the nearest time we wait when correctional zigzug in the wave [ii] is finished, whereupon an impulse | Ascending impulse is over We may talk about completion of an ascending impulse on this pair with full confidence. As we expected, the wave v took the form of the end diagonal which speaks about a cming reversal with a good potential. So, if the above assumption is correct, soon we will face a ratger |
| 28 May | |||
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| 25 May |
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