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 |
| 19 February | Albeit reluctantly but Euro still continued against the US currency. As we mentioned, this drop has obviously a corrective nature and is caused by the wave iv. In the future, we expected growth within this correctional wave, which is likely to take the form of a zigzag. My two attempts to availe t | The considered pair still sticks to our scenario. We assume that zigzag formed as the wave ii has finished its formation. At present, the price is preparing for a sharp surge within development of the wave iii of the rising impulse. In this situation, it is worth trying to open a buy position, sin | So far, things are going very well for this pair. Perhaps at the moment we witness formation of Zigzag in which the subwave b is developing. In the near future decline will obviously continue, then we can expect that growth within a mentioned corrective model will be finally formed. However, trade |
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