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 |
| 01 April | The pair is not ready to rest and continues the upward movement in the course of which a local High has been updated successfully. It is possible that it will be enough for bulls and the pair will start correctional decline or prolong the flat. In this regard, sales will become more relevant or it | This pair sticks to our scenario. In contrast to the euro, the pound was not strong enough to continue to strengthen against the US currency. As a result, the pair started to decline and formed a kind of zigzag, which indicates the possibility of further growth of the pair. Thus, in the near futu | Nothing interesting about this pair. The pair is frozen and now it is the second day when we are just waiting. Perhaps it means correction on small levels, and drop within the framework of this correction is not over yet. Therefore, in the near future we are likely to expect the downward movement |
| 31 March | |||
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| 28 March |
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