Wave analysis is a type of technical analysis of the market. According to it, the basis of any market fluctuations is Elliot waves. Making market predictions based on wave patterns doesn’t require any indicators and is considered one of the most descriptive types of analysis. Thus, Elliott waves are interpreted as a graphical method of technical analysis, which makes it possible to understand the behaviour of market participants by studying price movement waves.
Wave analysis is considered a complex method, but it is recommended that every trader know its basics. This is necessary to understand the algorithms for the movement of the working currency pair, to see the point at which the currency pair is located during the movement, as well as to know further prospects - all this data helps to obtain wave analysis. On this page, you can familiarize yourself with the conclusions and market forecasts from RoboForex experts, made using wave analysis.
25.11.2011
As we expected, yesterday the market wasn’t very active because of the holiday in the USA. It looks like the price is forming the third wave inside wave 3. In the near term, the price may continue moving upwards. Most likely, the bulls will reach the level of 0.9400 in the future.
24.11.2011
We may assume that after several days of consolidation the price started wave [3] of 3, which is now in the very beginning of the formation. Within the next several days we can expect the price to reach a new local minimum. The short-term target for the bulls is the level of 0.9400.
23.11.2011
Franc continues consolidating. It looks like the market is taking a break while forming an extension in the second wave, which is almost completed. During the next several hours we can expect the price to start growing again in wave [3] of 3. The first target for the bulls is the level of 0.9400.
22.11.2011
It looks like the correction is taking place here, and soon it may be finished. There is a possibility that the market may reach a new local minimum during the day. In the future we can expect the price to start growing while forming the third wave.
21.11.2011
After completing wave (B) in the form of a usual zigzag pattern, the price has formed an initial wedge pattern in an upward direction. We may assume that currently the market is forming a rising third wave. On the minor wave level we can see that wave [2] is about to be finished. In the near term, we can expect the price to start growing while forming wave [3] of 3. The target for the bulls is the level of 0.9600.
18.11.2011
Wedge pattern in wave 1 was a starting point of the growth. Currently the price is about to complete the second wave in wave 3. After the local correction is finished, the market may continue growing while forming wave [3].
17.11.2011
After completing wave (B) in the form of a usual zigzag pattern, the price has formed an initial wedge pattern in wave 1. The local correction has been finished and the market started the formation of the third wave. Most likely, the price will continue moving upwards while forming wave 3. The target for the bulls is the level of 0.9600.
16.11.2011
The price has broken the maximum of wave 1 and fixed itself below it. It looks like the market started forming a rising wave 3. In the near term, we can expect the price to continue growing. The target for the bulls is the level of 0.9600.
