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 |
| 20 November | Meanwhile the situation with the euro/dollar follows our scenario. After the assumed completion of the correctional wave (iv) in the form of a plane, the price has taken an unconfident attempts to start growing and chose the level of 161.8% as the basis. So far, buyers did not earn a great glory , | Bullish mood also prevails for this trading instrument. However, buyers failed to develop their success, the upward movement was dramatically fought off by the rival forces. It seems that this stop is only corrective in nature and its length would be short-lived. So in general we obviously expect | Goal of assumed correction has been almost reached I transferred my opened trade to the breakeven status, so will not close it, because the price can go even lower. In this situation, opening trades is very dangerous, so the best way is to observe the situation from the outside. In the future, we |
| 19 November | |||
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| 16 November |
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