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Wave analysis

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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
15 Abril	Keep on selling The last trading day was very calm. Bears did not show such zeal to push the price as low as possible as they showed before. Activity of bulls was slight and was counteract by rivals. It resulted in flat correction, which in the future will probably ensure continuation of the downward movement. O Mais	Triangle continues to develop Nothing unexpected happened about the pair GBP/USD. For the entire previous day the price had been standing almost on the same place. In general, our wave pattern retained its parameters and relevance. We assume that the considered pair had formed a horizontal triangle as the wave-link [x] includ Mais	The situation remains uncertain The US dollar continued its leisurely rise against the Japanese currency. Probably, it is boosted by the wave iv of [v]. We still can not see the entry points to open positions, because it is not clear whether this kind of leisurely growth will continue or the price will resume its downward moveme Mais
14 Abril	Continued drop	Ongoing development of the horizontal triangle	Upward correction
13 Abril	Actively sell	Inside the horizontal triangle!	Correction
12 Abril	The price is expected to leave horizontal channel	Third wave of upward impulse	Third wave of descending impulse
11 Abril	The pair is being traded within the flat	The wave 3 of upward impulse	Decline is most likely option

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Wave analysis

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