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 |
| 07 August | Apparently, development of correctional wave ii has been completed now. Bulls are slowly starting to gain speed in order to get the missing impulse waves through acceleration. So in the future we will get a more obvious impulse growth fueled by development of the wave iii. Ppening of long positi | The level of resistance continues to hold bulls back Bulls did not manage to find a hole in the formed resistance level. It has been several times when the price hit an invisible barrier and bounced down. If buyers fail to find good arguments to break this level, there is a good chance for a sharp | a global correction of the US dollar is coming, in the sense that the US currency strengthened against the most currency is readyfor at least a rollback. Obviously, yen does not stand aside from this, it had been suffering for 4 years. But while the goal is not as ambitious, it is only a small co |
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