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).
| 2016 | EURUSD | GBPUSD | USDJPY |
| 23 6月 | Today referendum in the UK will be held, where citizens of the kingdom will decide whether to stay in the EU or not. Of course, results of the voting will have a strong influence on the price fluctuations of currencies. Therefore, today we should be extremely careful either abstain from any deals. | I assume that the upward movement is formed in the wave 5 and is not over yet. So we expect further strengthening of the British currency. Then we expect a corrective decline to start, but the referendum may exert a strong influence on the wave frame. That is why now it is better to refrain from an | In the near future we expect impulse decline caused by an ongoing development of the wave iii of [c] of y. Therefore, sales of this pair look better than purchases, but on opening a deal do not forget to set protective Stop loss Orders. In the near future we expect impulse decline caused by an ongoi |
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