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.
15.11.2011
After completing wave (B) in the form of zigzag pattern, the price formed a rising wedge pattern in wave 1. We may assume that the second wave has also been completed, and at the moment the market is growing in the third one. The price got very close to the local maximum, and may break it in the nearest future.
14.11.2011
Looking at the daily chart of the pair, we may assume that the price has started the formation of a rising impulse in wave (C) of [2]. At the moment the market is under correction. There is a possibility that this local descending movement may continue during the next several days, but then we can expect the price to start moving upwards and reach a new maximum.
11.11.2011
We may assume that the price has completed an initial rising wedge pattern in the first wave, and now is forming wave 2. In the near term, after the local correction is finished, we can expect the price to start growing while forming the third wave.
10.11.2011
We may assume that the extension in wave 3 continues. On the minor wave level the price has completed the second wave, and now is forming the third one. There is a possibility that the pair may continue growing in the nearest future. The target for the bulls is the level of 0.9300.
09.11.2011
It looks like wave 3 may be completed extended. On the minor wave level an initial impulse has been completed in wave [1]. At the moment the price is forming the second wave. In the near term, we can expect the local correction to be finished and the price to start growing inside wave [3] of 3. The target for the bulls is the level of 0.9300.
07.11.2011
As we expected, Franc was able to break the maximum of wave 1, thus indicating the start of the third wave. The forecast of the price movement remains bullish. Most likely, the price will continue growing in the nearest future. The target for the bulls is still the level of 0.9300.
04.11.2011
After completing zigzag pattern in wave (B), the price has formed an initial rising impulse. The second wave is about to be finished. The forecast of the price movement remains bullish. In the near term, we can expect the start of the third wave.
03.11.2011
We may assume that the price, after finishing zigzag pattern in wave (B), has completed an initial rising impulse. It looks like the second wave has also been formed. The current chart structure lets us suppose that the price will continue growing during the next several days while forming the third wave.
