Forex Wave Analysis and Forecast


Natural gas Wave Analysis – 7 July, 2020
Natural gas Wave Analysis – 7 July, 2020
Natural gas recently broke above the key resistance level 1.824 (which reversed the price multiple times at the start of June)
NZDCAD Wave Analysis – 7 July, 2020
NZDCAD Wave Analysis – 7 July, 2020
NZDCAD continues to rise after the earlier breakout of the key resistance level 0.8800 (which has been reversing the price from the end of 2019)
GBPJPY Wave Analysis – 7 July, 2020
GBPJPY Wave Analysis – 7 July, 2020
GBPJPY recently broke the resistance area lying between the resistance level 133.90 (top of the previous impulse wave (1)) and the 38.2% Fibonacci correction of the previous ABC corr...
Ebay Wave Analysis – 7 July, 2020
Ebay Wave Analysis – 7 July, 2020
Ebay continues to rise inside the two nested, different-size upward impulse waves 3 and (3), as can be seen from the weekly Ebay chart
Copper Wave Analysis – 6 July, 2020
Copper Wave Analysis – 6 July, 2020
Copper continues to rise inside the short-term impulse wave (iii) which started earlier from the pivotal support 269.90 (former resistance from the start of June).
EURUSD Wave Analysis – 6 July, 2020
EURUSD Wave Analysis – 6 July, 2020
EURUSD continues to rise inside the short-term corrective wave (ii) which started earlier from the support 1.1200, intersecting with the 38.2% Fibonacci retracement of the previous s...
EURJPY Wave Analysis – 6 July, 2020
EURJPY Wave Analysis – 6 July, 2020
EURJPY recently broke the resistance level 121.40 – coinciding with the 38.2% Fibonacci retracement of the previous sharp downward ABC correction 2.
Alibaba Wave Analysis – 6 July, 2020
Alibaba Wave Analysis – 6 July, 2020
Alibaba recently broke with the sharp upward gap above the key resistance level 230.00 (former multi-month high from January and June).
Gold Wave Analysis – 3 July, 2020
Gold Wave Analysis – 3 July, 2020
Gold recently reversed up from the support level 1760.00 (former resistance level which stopped the earlier impulse wave 1 in the middle of May).
NZDCAD Wave Analysis – 3 July, 2020
NZDCAD Wave Analysis – 3 July, 2020
NZDCAD continues to rise after the earlier breakout of the key resistance level 0.8800 – which has been reversing the price from last December.

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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