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 |
| 11 September | The euro does not want to give up again and put price lower through formation of the wave y of [ii]. Instead, it shows contrived growth, which in the future can become a full-fledged upward momentum. If this happens, this scenario would be cancelled. So far, this has not happened, and there are | The pound continues an aggressive attack almost without giving bears a respite! In current situation it is difficult to predict when it's the time for a deep and prolonged correction as growth is very confident. In this situation, it is dangerous to jump into the passing train, but entering a rol | We expect further strengthening of the US dollar In this pair nothing has changed. The scenario with development of the ascending correctional wave [iv] is implemented in full. At the moment, we witness formation of the wave with of [iv], the expected zigzag. Potential for further upward movement |
| 10 September | |||
| 09 September | |||
| 08 September | |||
| 07 September |
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