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 |
| 10 Juli | It seems that having benefited from indecisive behavior of the US dollar, Euro has started to gradually grow. But shall we start to buy?It seems that no. The pair can find itself in a long-term flat, so it is better to stay away. Though you may try to buy minimum volume with minimum risks, but ever | The past trading day was quite lucky for bulls. At least, they managed to stop pressure of sellers. Besides, the pair has demonstrated a slight growth. Perhaps, the correctional wave [ii] has already been formed. If our assumption is correct, the British currency has fine chanced to start consolida | This pair again shows some strange moves. One would think that bears have finally taken everything over but purchases changed it and led to some growth. Certainly, it can be connected to development of one more wave 1-2 and in this case descending movement can turn out to be rather strong. But as l |
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