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 |
| 09 Oktober | We assume that the euro/US dollar is to continue development of a horizontal triangle formed as the wave (iv). To be finally formed, this model lacks a slight decline associated with development of the wave [e]. < / p> Thus, in the near future, we expect a slight drop, in the course of which the | In this pair everything has been formed as we expected. The pound continues to strengthen against the US dollar and this is unlikely to stop. Potential of the upward movement is about three hundred points so I will keep the open position, moreover, it has already transferred into the black. Thu | Bears still can not push the dollar so much that it would move down, so the price continues to teeter on the brink of a severe decline. The wave scenario for this reason remains the same, we expect development of thewave [v] of the descending impulse movement. I have moved Stop Loss on my trade |
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