Forex Wave Analysis and Forecast


USDJPY Wave Analysis 3 March, 2021
USDJPY Wave Analysis 3 March, 2021
USDJPY has been rising strongly in the last trading sessions and today approached the resistance level 107.08 (former monthly high from August of 2020).
WTI oil Wave Analysis 3 March, 2021
WTI oil Wave Analysis 3 March, 2021
WTI oil has recently reversed up from the support levels 60.00 and 59.15 – intersecting with the 38.2% Fibonacci correction of the previous upward impulse from the start of Feb...
CHFJPY Wave Analysis 3 March, 2021
CHFJPY Wave Analysis 3 March, 2021
CHFJPY today reversed up from the support level 116.3 (which has been steadily reversing the price from the end of December as can be seen below).
IBEX 35 Wave Analysis 3 March, 2021
IBEX 35 Wave Analysis 3 March, 2021
IBEX 35 index recently reversed down from the powerful resistance area lying between the key resistance level 8406.5 (former monthly high from January) and the upper daily Bollinger ...
Copper Wave Analysis 2 March, 2021
Copper Wave Analysis 2 March, 2021
Copper recently reversed up from the support level 410.00 (which has been reversing the price end the start of February).
EURAUD Wave Analysis 2 March, 2021
EURAUD Wave Analysis 2 March, 2021
EURAUD recently reversed down from the resistance level 1.5700 (which has been reversing the price from the start of February) – standing near to the resistance trendline of th...
AUDUSD Wave Analysis 2 March, 2021
AUDUSD Wave Analysis 2 March, 2021
AUDUSD recently reversed up from the support level 0.7730 (which has been reversing the price from the middle of February) – intersecting with the 61.8% Fibonacci correction of...
Dax Wave Analysis 2 March, 2021
Dax Wave Analysis 2 March, 2021
Dax index continues to rise inside the minor impulse wave 3 which started earlier from the support level 13660.00 (which also formed the daily Hammer at the end of February).
Gold Wave Analysis 1 March, 2021
Gold Wave Analysis 1 March, 2021
Gold recently broke the powerful support level 1766.00 (which has been reversing the price from the end of  November).
Cocoa Wave Analysis 1 March, 2021
Cocoa Wave Analysis 1 March, 2021
Cocoa continues to rise strongly after breaking the resistance level 2564.00 (monthly high from January) – after it broke the daily down channel from 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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