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 |
| 17 July | By all appearance, development of the linking wave [x] is already over. The decline witnessed by us now is the part of the wave [y]. In the nearest time we shall probably expect continuation of decline within the frames of development of a correctional model represented by double zigzug. It is dange | We expect correctionAs we expected, an ascending movement has stopped. The reason is that impulse has occurred at a smaller level which boosted correction. So, if our assumption is correct in the nearest time we shall probably expect a correctional decline of the pair associated with formation of th | A strong ascending movement has stopped but the price has closely approached a critical level. Breakthrough of this level will cancel the plan implying the wedge and considered by us earlier. But so far we assume that the wave 4 has completed its formation and in the nearest time we shall expect a |
| 16 July | |||
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| 13 July |
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