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 |
| 03 June | I am concerned that correction having emerging as the ii wave looks completely formed, but it is very small. Even a more prolonged upward movement or the right movement won't hurt. However, it is quite possible that we will see another wave within the framework of this correction. In this case, we | Yesterday the price corrected - we assume in the form of the wave 4, viewed as the downward momentum. At the moment, this wave 4 looks unfinished, because it lacks another small upward wave, so in the near future growth is expected within the frames of mentioned correction. Then, obviously, the decl | We assume that by this point the first wave of a c correctional model has been formed. It is supposed take the form of a simple Zigzag. Basis on this assumption, I can conclude that a slight growth is expected in the near future. In the current situation it is better abstain from trading and wait fo |
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