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 |
| 18 12月 | Probably, this pair is coming to the end of a corrective decline pushed by the wave ii of an emerging upward impulse. Although it is possible that correction can take a complex character, yet in the near future we expect resumption of growth of the pair. Anticipating the wave iii of the upward mom | Bears managed to update the Low once again. But the overall situation still looks bullish and here is why. It is likely that the final Diagonal Triangle took a more ambitious form which more clearly shows internal three-wave model. I assume that yesterday the final wave v was formed, which is the | So far, this pair sticks to the plan. Although a corrective growth took more time than we expected, general expectations were met. We assume that development of the wave ii of the emerging downward momentum is over. This is indirectly pointed by the price, which started looking down. Now we obvi |
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