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 |
| 29 Januari | The Euro has shaked its wings and started moving up. Therefore, we expect formation of the wave iii of the rising impulse. However, the local High, from which the price has repeatedly bounced, has not yet been reached, so we cannot be fully sure impossible, the market may surprise us. For this rea | As we expected, a sharp decline had a corrective nature and was a part of the wave ii of the supposed upward impulse. Immediately thereafter the price began to grow boosted by development of the wave iii. At the moment, the price continues the mentioned impulse wave which will obviously evolve furt | The first wave of the assumed downward momentum is obviously over. This explains a sharp growth, which probably has a corrective nature and took the form of a zigzag. At the moment, said correction looks almost completely finished so soon we can expect resumption of drop of the pair within the fra |
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