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 |
| 05 February | Some flat is expected. The bullish scenario continues to be successfully implemented. I guess, yesterday’s movement was because of iii [iii] wave formed of ascending impulse. In the near future, we are likely to expect a stop, so that the pair EURUSD will go to correction. Thus, ascending movement i | Pound is a good guy and yesterday showed that british currency had a very serious intentions. The pair continues to grow, although there has been a clear decline to the end of the day, that led to the development of correction. In near future we are expecting a continue of correction forming, and th | The Japanese currency, despite of all expenditures, continues to attack US dollar, and this led to strong price decrease downwards. However, this currency price is unlikely to break local Low, especially since the price has returned to it without roll back. Thus, in the near future, we obviously exp |
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