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 |
| 22 May | 22 of May, 2015, EUR/USD Yesterday we had no significant events. The pair stood still. This kind of benaviour partly confirms that soon a renewal of ascending impulse movement can take place. Though it is probable that we deal with subcorrection and later the price can even get lower. In one way | May 22 of 2015, GBP/USD As we expected, the pound continued to get consolidated against US currency. Though an evident reason of this consolidation is the development of the wave [b] of forming zigzug in the wave ii. So, the pair continues its correction and one more wave down is waiting for us wh | 22 мая 2015, USD/JPY Once again, the pair has reached the upper level of resistance and started to bounce from it. Since it has not updated High, we can suppose that on this point formation of double three figure has been completed and it was the way how the wave ii has formed. Therefore, in the ne |
| 21 May |
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