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 |
| 13 November | The considered pair follows our scenario. Bulls start to feel more confident. The upcoming growth is expected because after the rebound from the level 161.8%, price returned and tried to update Low, but buyers kept the pressure of bears, and the pair went up. In the future, we expect continuation | Everything is more or less successful in relationship of the British currency with the dollar. Though for the previous trading day, pound failed to update the local High, it looks still very confident. It seems that yesterday microcorrection was formed and today the pair will continue to strengthe | For this pair everything is very well too. Although there is still a risk that a considered decline has only corrective nature, though my trade has already switched into the black. If the price goes beyond the supposed wave [a], we can open additional Sell trades. Selling now is extremely dangerou |
| 12 November | |||
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| 09 November |
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