Forex Wave analysis and forecast
One of the key factors, which has influence on any trader’s success is his ability to correctly predict the market movements. The two main methods are technical and fundamental analysis of Forex market.
An important feature of fundamental analysis is its global nature. Events, which are analyzed in fundamental analysis, have long-term influence on supply and demand on the currency market. This information is composed of the news about the world’s biggest political and financial events. It’s hard to overestimate the influenced the news has on financial markets: when the most important news is published, the market volatility increases.
It’s quite easy for an experienced trader to analyze and predict how a single event may influence the market. However, analysis of several events, which may influence the market in completely different ways, is a very complicated and time-consuming process. This may be the reason why only approximately 20% of traders use fundamental analysis as their main forecasting tool.
Fundamental approach to Forex market analysis, unlike technical one, covers not only the prices and their changes, but the reasons for these changes as well. Each approach has its followers, advantages and disadvantages.
After finishing the zigzag in the wave (y), Eurodollar has started falling.
Probably, Eurodollar has finally completed the zigzag in the wave (y).
Probably, Eurodollar has completed the zigzag in the wave (y) and, consequently, the diagonal triangle in the wave 2.
Eurodollar is still consolidating.
It looks like Eurodollar is about to complete the double zigzag in the wave 2.
Probably, Eurodollar is about to complete the double zigzag in the wave [y] of 2.
In case of Eurodollar, the chart structure is becoming more and more complicated.
It looks like Eurodollar has finished the wave 2 of the larger diagonal triangle.
After finishing the wave 4, the price has formed the bearish impulse in the wave [i] and the ascending correction.
Probably, last week Eurodollar finished the wave 2 of the larger diagonal triangle.
In case of Eurodollar, the chart structure has been changed again.
In case of Eurodollar, the chart structure has been changed.
Probably, Eurodollar has finished the horizontal triangle in the wave (B) and then the descending impulse in the wave [i].
It looks like Eurodollar has completed the wave [ii] and right now is about to start a new decline.
Probably, last week Eurodollar completed the horizontal triangle in the wave (B) and then the descending impulse in the wave [i].