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 |
| 04 March | After long decrease EUR has awaked and starts rising. This growth looks as a wave [v] of final diagonal triangle. So we are expecting further impulse growth of the pair. Opened deal on buy is in breakeven. After long decrease EUR has awaked and starts rising. This growth looks as a wave [v] of final | Development of decrease impulse has finished. It is pointed by the yesterday's character of the rising movement. It is possible that this growth can turn into a big rising impulse. So in this situation it is better to open deals on buy after correction decrease. Development of decrease impulse has f | As we supposed, decrease movement which had a correctional character has finished. Obviously the development of ii wave of decreasing impulse has finished too. Pair continues to decrease so we can expect movement of decrease impulse. Extra deals on sell will be opened after breaking through the l |
| 03 March | |||
| 02 March | |||
| 01 March | |||
| 29 February |
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