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 |
| 04 September | Zigzag was formed much faster than it was expected by us. The price did not complicate the wave b, having decided to restrict what happened, and the pair resumed its downward movement. Thus, it is possible that development of the wave with of [ii] alleged zigzag is over. In the future, with the | The pound still can not find counter-arguments to start strengthening against the US currency. This results in a slow decline of its value. However, reduction is quite possible, and it can be carried out in the framework of development of the wave [c] of (ii), which is expected to complete soon. | Growth within development of zigzag is expected This pair appears to turn to a corrective decline that takes the form of a simple Zigzag. Currently, formation of this model in the form of the wave b of [iv] presumably comes to the end. If this is so, in the future we can expect a sharp rise that |
| 03 September | |||
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| 31 August |
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