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 |
| 03 July | No significant changes have been made for the last 24 hours. The pair has been almost stood still This passive behavior can be explained by anticipation of news on Greece. Till Monday, it is most likely that nothing interesting can take part on this pair. Waves still indicate presence of bulls and | The same way as Euro does, Pound is not in a hurry to accomplish new Highs. Yhis currency is also concerned with the Greek question. Though, in the terms of wave movement, the pair should have head for drawing the wave 5of an ascending impulse . It is far from reaching a critical level, so bulls ha | Correction is still forming on this pair. . Nevertheless, it seems quite obscure and can confuse traders You are not recommended to trade in this situation. You may try to work with a pending Buy order having established it under the Low of the price. Waves tend to look bearish now. If our assumpti |
| 30 June | |||
| 29 June |
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