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 | EURUSD | GBPUSD | USDJPY |
02 October | |||
As for the considered pair, no significant and insignificant changes have so far occurred. The price clearly justifies the expectations placed upon it. It should be noted that after completion of the horizontal Triangle in the wave [iv], formation of descending impulse has begun. Internal structure of the momentum now points to development of the correctional wave ii of [v]. So, if this assu | |||
01 October | |||
30 September | |||
29 September | |||
28 September |