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.
Possibly, the EUR/USD pair completed the triangle in the wave (B).
At the daily chart, the EUR/USD pair is probably still forming the triangle in the wave (B).
At the H4 chart, the EUR/USD pair probably completed the zigzag in the wave [ii].
Probably, the EUR/USD pair completed the zigzag in the wave [ii].
Possibly, the USD/JPY pair completed the wave [iv] in the form of the double three.
Probably, the EUR/USD pair completed the double zigzag in the wave [ii].
Probably, the GBP/USD pair is about to complete the wave ii of the diagonal triangle (v).
The EUR/USD pair is still being corrected.
It looks like last week the EUR/USD pair completed the wave [i] and started a new ascending correction.
In case of the GBP/USD pair, the price is forming the diagonal triangle in the wave (v) of [iii].
Probably, the EUR/USD pair finished the wave (ii) of the extension in the wave [iii].
The EUR/USD pair is about to finish the wave (ii) of the extension in the wave [iii].
The EUR/USD pair is still forming the bearish impulse in the wave [iii].
It looks like the EUR/USD pair is forming the bearish impulse in the wave [iii].
It’s highly likely that yesterday the EUR/USD pair finished the wave [ii] and may soon start falling in the third wave.