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 |
| 05 Juni | The price did not continue to move upwards and a pullback started which has a correctional character. The situation is as follows: The price has bounced from Fibo level 61.8% and started move upwards. This movement was caused by development of the wave [iii] of (iii). The pair has not reached a lo | As Euro, British currency was not able to develop its success. In the result, upward movement has stopped and meanwhile it is not clear how the pair will behave in the future. We can only assume that in the nearest time we will face a slight correction, whereupon the movement in impulse form will co | Following to a dash boosted by development of the wave [5] of v, the pair stood still again. It is unknown when one more phase of activity will start. So, we must be patient to wait when this phase happens and handle pending warrants. According to the scenario, the pair is expected to decline, so |
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