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).
| 2016 | EURUSD | GBPUSD | USDJPY |
| 08 April | All efforts of bulls to break above were in vain. There is a feeling like the car working up the speed faced the wall, which buyers drove in at full speed. Of course, such a painful blow affected their spirit. Breakdown of the upper border of the defined range turned out to be false, the price has u | The British currency has also showed a strong upward movement but could not develop its local success. As a result, all efforts were in vain, as the last day the pair had spent in a slow decline. However, although the price has not updated the local Low, in theory chances for resumption of growth | This pair performed as we expected. The pair continued to decline. This drop is likely to have the impulse character. At this point, perhaps, the price has completed development of the wave iii of downward momentum. The supposed wave [v] will take the shape of final diagonal triangle and then wil |
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