Forex Wave analysis and forecast

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 as one of the most descriptive types of analysis.

12.07.2011

Wave Analysis 11.07.2011 (USD/CHF, EUR/USD)

After rebounding from the horizontal triangle’s upper border, the price has left the pattern. We may suppose that wave [5] of 3 started to form. The forecast still remains in effect, the price may continue to fall during the week.