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 |
| 30 April | An ascending impulse is expected to continueAs we expected, the pair continued its upward movement. So, scenario with evolvement of an ascending impulse continues. Though we think that bulls will not be satisfied with that. The predicted wave (iii) is too short yet, thus in the nearest time we wait | The Pound has exceed all expectations. British pound has not only grown but its growth was also very confident. Yesterday was again the day when bulls took the advantage. Yesterday’s growth has supposedly formed the wave [iii] of an ascending impulse. So, if the above-mentioned statement is true, so | The pair has been moving along support level bouncing a little from this level or getting back to it again. It discovers a certain hesitancy but breakthrough will take place to a high probability. It is also proved by the wave picture where the wave 3 of [3] is supposedly developing. So, if the abov |
| 29 April | |||
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| 27 April |
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