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 |
| 25 September | Well started movement in the upward direction was replaced by an abrupt downward movement. Perhaps this is due to formation of the correction in the internal structure of the prospective wave [iii]. In this case, in the future we expect growth impulse to resume within development of this wave. Ho | Decline in this pair continued, which led the price to a critical level, the breakdown of which canceled the considered scenario. However, the downward movement was rather smooth without significant pullbacks, so the the price is likely either to bounce off local Low, or develop the wave iii of up | All the last trading day, the pair has spent in the range of emerging convergent horizontal triangle. In order to finalize and adopt the final form of this model, it lacks the final wave e. It is possible that today the price would form this wave, and this in turn means that in the future we are |
| 24 September | |||
| 23 September | |||
| 22 September | |||
| 21 September |
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