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.
20.10.2011
We may assume that the price is finishing the formation of wave [2] inside wave A. most likely, the local correction may be finished during the day and the price will start falling down while forming the third wave. The first target for the bears is the level of 0.87.
19.10.2011
We may assume that the price is forming a descending impulse in wave A. On the minor wave level we can see that the second wave hasn’t been finished yet. Most likely, the local correction will continue during the day. In the future we can expect the price to start falling down in wave [3] of A.
18.10.2011
We may assume that the price completed forming an initial descending impulse in wave [1]. Right now the local correction is taking place, and after it is finished, we can expect the price to start moving downwards while forming the third wave. Franc may reach the level of 0.86 in wave A.
17.10.2011
We may assume that a descending impulse in wave A continues. On the minor wave level we can see the formation of the third wave. Most likely, in the near term we can expect the price to continue moving downwards.
14.10.2011
A descending impulse continues in wave A with the second wave completed inside it. The forecast of the price movement is shown on the chart. In the near term, we can expect the price to continue moving downwards while forming a descending wave [3].
13.10.2011
We may assume that a descending impulse is being formed in wave A. On the minor wave level we can see the formation of the second wave. In the near term, after the local correction is finished we can expect the price to continue moving downwards.
12.10.2011
The price hasn’t changed much over the last 24 hours and keeps moving in a quite narrow range. Earlier the price completed diagonal triangle pattern in wave 5 with the reduced fifth wave. We may assume that at the moment the market is forming a descending impulse in wave A. In the near term, the price may continue falling down.
11.10.2011
We may assume that diagonal triangle pattern in wave 5 of (A) has been completed with the reduced fifth wave. The correction started, with wave A being formed inside it. In the near term, we can expect the price to continue moving downwards.
