Forex Wave Analysis and Forecast


Ebay Wave Analysis – 17 September, 2020
Ebay Wave Analysis – 17 September, 2020
Ebay continues to fall sharply after the earlier breakout of the support zone located between the support level 51.00 (which stopped the previous impulse wave (i)) and the 38.2% Fibo...
Palladium Wave Analysis – 17 September, 2020
Palladium Wave Analysis – 17 September, 2020
Palladium recently reversed down from the resistance zone located between the resistance level 2400.00 (which formed the top of the previous daily candlesticks reversal pattern Eveni...
NZDCAD Wave Analysis – 17 September, 2020
NZDCAD Wave Analysis – 17 September, 2020
NZDCAD recently broke resistance area located between the resistance level 0.8850 (which stopped the previous impulse wave (1)) and the 61.8% Fibonacci correction of the downward cor...
EURGBP Wave Analysis – 16 September, 2020
EURGBP Wave Analysis – 16 September, 2020
EURGBP recently reversed down from the resistance area lying at the intersection of the powerful resistance level 0.9300 and the resistance trendline of the wide weekly up channel fr...
CADJPY Wave Analysis – 16 September, 2020
CADJPY Wave Analysis – 16 September, 2020
CADJPY recently broke the support area lying between the round support level 80.00 (which stopped earlier waves (b) and (i)) intersecting with the 38.2% Fibonacci correction of the p...
WTI Wave Analysis – 16 September, 2020
WTI Wave Analysis – 16 September, 2020
WTI continues to rise inside the minor corrective wave (ii) – which started earlier from the support level 36.70 (former monthly low from July), intersecting with the lower dai...
USDJPY Wave Analysis – 16 September, 2020
USDJPY Wave Analysis – 16 September, 2020
USDJPY continues to fall after the pair broke through the support area lying between the support level 105.20 (low of the previous waves (a) and b) and the 61.8% Fibonacci correction...
Natural gas Wave Analysis – 15 September, 2020
Natural gas Wave Analysis – 15 September, 2020
Natural gas recently reversed up from the support level 2.270 (former resistance from August) – standing near the lower daily Bollinger Band and the 38.2% Fibonacci correction ...
AUDUSD Wave Analysis – 15 September, 2020
AUDUSD Wave Analysis – 15 September, 2020
AUDUSD recently reversed up from the key support level 0.7200 (low of the previous wave A, which reversed the price multiple times in July and August).
EURJPY Wave Analysis – 15 September, 2020
EURJPY Wave Analysis – 15 September, 2020
EURJPY earlier reversed down from the resistance level 126.50 (which reversed the price twice in August) – intersecting with the upper daily 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.

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