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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.

02.05.2016

Wave Analysis 02.05.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

In case of Eurodollar, the chart structure remains quite complicated.
29.04.2016

Wave Analysis 29.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Probably, the wave ii is taking the form of a longer pattern than we expected earlier.
28.04.2016

Wave Analysis 28.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

In case of Eurodollar, the main scenario is still bearish.
27.04.2016

Wave Analysis 27.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

After finishing the diagonal triangle in the wave c of (y), Eurodollar is trying to resume its decline.
26.04.2016

Wave Analysis 26.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Probably, after finishing the correction in the wave ii, Eurodollar started forming the descending impulse in the wave iii.
25.04.2016

Wave Analysis 25.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

After finishing the diagonal triangle in the wave c of (y), Eurodollar is trying to resume its decline.
22.04.2016

Wave Analysis 22.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Probably, Pound has completed the double zigzag in the wave [ii].
21.04.2016

Wave Analysis 21.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

After finishing the diagonal triangle in the wave c of (y), Eurodollar has started falling.
20.04.2016

Wave Analysis 20.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

It looks like Eurodollar is about to complete the wave ii.
19.04.2016

Wave Analysis 19.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Pound is also still being corrected.
18.04.2016

Wave Analysis 18.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Probably, last week Eurodollar completed the wave 2 in the form of the double zigzag.
15.04.2016

Wave Analysis 15.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

After finishing the zigzag in the wave (y), Eurodollar has started falling.
14.04.2016

Wave Analysis 14.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Probably, Eurodollar has finally completed the zigzag in the wave (y).
13.04.2016

Wave Analysis 13.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Probably, Eurodollar has completed the zigzag in the wave (y) and, consequently, the diagonal triangle in the wave 2.
12.04.2016

Wave Analysis 12.04.2016 (EUR/USD, GBP/USD, USD/JPY, AUD/USD)

Eurodollar is still consolidating.