Forex Wave Analysis and Forecast


EURJPY Wave Analysis – 03 April, 2019
EURJPY Wave Analysis – 03 April, 2019
EURJPY recently reversed up from the multi-month support level 116.20 (which has been reversing the price from September of 2019, as can be seen form the daily EURJPY chart below).
GBPCAD Wave Analysis – 03 April, 2019
GBPCAD Wave Analysis – 03 April, 2019
GBPCAD recently reversed down from the resistance level 1.7770 (which has been reversing the price from March of 2019, as can be seen below).
GBPNZD Wave Analysis – 03 April, 2019
GBPNZD Wave Analysis – 03 April, 2019
GBPNZD recently reversed down from the key resistance level 2.1000 (top of the previous impulse wave (i)) standing near the upper daily Bollinger Band.
Novartis Wave Analysis – 03 April, 2019
Novartis Wave Analysis – 03 April, 2019
Novartis has been rising in the last few trading session after the earlier sharp upward reversal from the key support area lying between the long-term support levels 70.00 (former mu...
AUDNZD Wave Analysis – 02 April, 2019
AUDNZD Wave Analysis – 02 April, 2019
AUDNZD recently reversed down from the round resistance level 1.0300 (former strong support from 2019), intersecting with the 61,8% Fibonacci correction of the previous downward impu...
AUDCAD Wave Analysis – 02 April, 2019
AUDCAD Wave Analysis – 02 April, 2019
AUDCAD recently reversed down from the pivotal resistance level 0.8700 (former strong support from March), standing near the 61.8% Fibonacci retracement level of the previous sharp d...
NZDCHF Wave Analysis – 01 April, 2019
NZDCHF Wave Analysis – 01 April, 2019
NZDCHF recently reversed down from the pivotal resistance level 0.5800 (this is the 6th consecutive downward reversal from this resistance level), intersecting with the 50% Fibonacci...
CHFJPY Wave Analysis – 01 April, 2019
CHFJPY Wave Analysis – 01 April, 2019
CHFJPY recently reversed down from the resistance area lying between the key resistance level 114.00 (which has been reversing the price from the middle of January), upper daily Boll...
EURCHF Wave Analysis – 01 April, 2019
EURCHF Wave Analysis – 01 April, 2019
EURCHF recently reversed down from the resistance area lying between the key resistance level 1.0650 (top of the previous correction (ii)), upper daily Bollinger Band and the upper t...
GBPCHF Wave Analysis – 31 March, 2019
GBPCHF Wave Analysis – 31 March, 2019
GBPCHF recently reversed up from the support area lying between the round support level 1.1500 (which stopped the sharp weekly downtrend in 2011) and the lower monthly Bollinger Band.

Be aware of price movement using wave analysis

The goal of the Elliott wave analysis is to use the price move’s laws during its work, as for the market movement is characteristic a wave-like nature. The main instrument of Forex wave analysis is the price itself (the graph). The charts, where the price moves occur, are marked by analysts on the main waves and the sub-waves, respectively. The forecasts regarding the forthcoming price moves are formed grounding on the above mentioned marks.

Determination of Preliminary Variations of Price Movement, as the Essence of Forex Wave Analysis  

The main postulates of the Elliott wave analysis state that for the price move on any market is characteristic the wave motion, which allows to forecast the further development of situation. The Forex wave analysis provided to you by the best Forex brokers enables to figure out the preliminary variations of the price move continuation, the approximate and the minimum potential of the given options, and knowing the criteria of their approval, use any of them for profit earning, realizing which one is taken for the profit earning, in order to keep the chosen wave till the end of transaction. It should identify the impulse waves and the corrective ones, as the price movement is divided into two main groups of waves:

  • Impulses - that move the wave’s price either upward, or downward (marked by numerals)
  • Corrections – the waves, used in order to react on the impulse sufficiently (marked by letters)

The Identification of Wave and Procedure of it's Plotting on the Price Chart

The market wave analysis marks out several methods in order to identify the wave, when plotting it on the chart: on the closing prices, on the maximum prices and on the minimum ones, or based on the average. For a novice trader, who just started to use the Elliott wave technical analysis, the best way for the waves plotting on the chart is the coupling together the maximum price with the minimum one, and minimum price with the maximum one, respectively. In this case the wave marking becomes visual, and the novice trader quickly “gets one’s hand “.

To reduce the risk of loss when using the Forex wave theory and for the proper calculation of stop loss size, special attention should be paid to the length of waves. Experts of the market wave analysis indicate that the longer the impulse waves are, the longer the corrective ones will be, respectively.

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree