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).
| 2015 - 2016 | EURUSD | GBPUSD | USDJPY |
| 30 December | The considered pair follows our scenario. As we assumed, the pair does not rush to force the issue, continuing its correction. It is likely that we witness a continued development of the wave ii of the emerging ascending impulse, so we need to be ready for the possibility that the price may fall e | The British currency does not stop to amaze and present surprises. A couple of days ago, the pound showed that it intends to seriously start to storm previously given position, but yesterday there was a sharp decline, which led to renewal of the local price lows. Immediately after that, the pound | The Yen continues to hold its positions not giving bulls to use at least a chance, slowly squeezing the price lower. It is possible that the prospective wave iii is currently preparing for extension. So, if this assumption is correct, in the near future we can expect a rapid and sustained impulse |
| 29 December | |||
| 28 December |
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