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 |
| 24 Abril | Pending order aimed to break a local Low did its works, now buyers need to decide. As we expected, euro started to get a little more lively. Growth is very moderate but we think that it is taking the time to start. In the nearest time we expect continuation of movement but this movement will be much | The Pound decided not to force events and slightly consolidated against its US rival. Though this consolidation was quite confident. We think that we will face the most interesting things today. In the nearest time we expect evolvement of an abrupt impulse growth which will bring the wave of an [ii | US dollar started to retreat though this step is rather slow now. The time has come for Japanese currency to take more decisive actions! It is possible that today we will see an abrupt impulse movement down which is associated with emergence of a descending impulse in the wave [3]. So I continue to |
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