Forex Wave Analysis and Forecast


AUDNZD Wave Analysis – 23 August, 2019
AUDNZD Wave Analysis – 23 August, 2019
AUDNZD recently reversed down from the resistance area lying between the resistance level 1.0590 (previous upward target) and the upper daily Bollinger Band.
Copper Wave Analysis – 22 August, 2019
Copper Wave Analysis – 22 August, 2019
Copper recently reversed down from the resistance area lying between the resistance level 262.50 (former support from July) and the 38.2% Fibonacci correction of the previous downwar...
GBPNZD Wave Analysis – 22 August, 2019
GBPNZD Wave Analysis – 22 August, 2019
GBPNZD recently broke the resistance area lying between the resistance level 1.9060 (top of the previous (a)-wave) and the 61.8% Fibonacci correction of the previous downward impulse...
EURAUD Wave Analysis – 21 August, 2019
EURAUD Wave Analysis – 21 August, 2019
EURAUD recently broke the support area lying between the support level 1.6400 (former strong resistance from June) and the 38.2% Fibonacci correction of the previous upward impulse f...
CADCHF Wave Analysis – 20 August, 2019
CADCHF Wave Analysis – 20 August, 2019
CADCHF recently reversed down from the resistance area lying between the resistance level 0.7380 (former support from May and June) and the 38.2% Fibonacci correction of the previous...
Palladium Wave Analysis – 19 August, 2019
Palladium Wave Analysis – 19 August, 2019
Palladium recently reversed up from the support area located between the support level 1390.00 (former resistance May), lower daily Bollinger Band, support trendline from November an...
EURGBP Wave Analysis – 19 August, 2019
EURGBP Wave Analysis – 19 August, 2019
EURGBP recently reversed up from the support area lying between the support level 0.91100 (former powerful resistance from August and December) and the 50% Fibonacci correction of th...
EURGBP Wave Analysis – 16 August, 2019
EURGBP Wave Analysis – 16 August, 2019
EURGBP previously reversed down precisely from the resistance area lying between the multi-year resistance level 0.9300 (which has been reversing the price from 2016) and the upper w...
Platinum Wave Analysis – 16 August, 2019
Platinum Wave Analysis – 16 August, 2019
Platinum recently broke the support area lying between the support level 850.00 (former resistance from June) and the support trendline of the daily down channel from June.
AUDNZD Wave Analysis – 15 August, 2019
AUDNZD Wave Analysis – 15 August, 2019
AUDNZD recently reversed up from the support area lying between the support level 1.0450 (former resistance from July) and the upper trendline of the recently broken daily down chann...

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.

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