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 |
| 26 June | Salesmen still exert pressure on bulls, but neither party is able to turn the balance into their side. Expectations remain the same as before. So, now we suppose that a correctional wave ii of ascending impulse is developing. So in the nearest time we will witness renewal of ascending impulse. Wit | p> No significant changes had been noted here as well. Correction marked yesterday's trading which was associated with development the wave 4. By the end of the past day, bulls formed series of candles though. It looks like the first signs of the 5th wave of ascending impulse . Thsi indicates begin | One more wave of sales is coming We suppose that correction represented by the wave 2 has ended. This wave is given as planes and now looks as fully formed. Besides, bears try to move the market down but fail. However, they can accelerate their efforts. So it is quite probable that currently the wav |
| 25 June | |||
| 22 June |
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