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 |
| 06 May | We witness implementation of the scenario where ascending impulse is developing and the second wave (i) is a wedge. Meanwhile it is too early to state that the model is formed. We supposed that the wedge had been formed whereupon growth had started and this growth was represented by the wave (iii). | Here is a short review of current state of GBP/USD pair. Growth is expected to continue. As we expected, bulls did not allow their rivals to force the price below a critical level. So, a supposed ascending impulse preserves its potential. As of now, wave [v] is supposed to evolve. To conclude, in th | Here is a short review of USD/JPY Once again bulls were not capable of developing their advantage and started to retreat. Quite probable that it has finished development of the wave 2 of [3] of descending impulse. So, should this assumption be correct, soon we will witness a further decline of the p |
| 05 May |
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