A new method for the investigation of anisotropic electromagnetic wave propagation in the atmosphere is developed using parabolic approximations. Model equations for the electric field components are formulated which include the effects of both the inhomogeneous atmosphere and the static magnetic field of the Earth. Application of parabolic-type approximations produces different systems of coupled parabolic equations. Each is valid for different relative magnitudes of components of the electric field. All admissible cases are then synthesized into one system which can be numerically examined, yielding solutions without a priori knowledge of electric field ratios. A specific example is presented and examined to understand static magnetic field effects on electromagnetic wave propagation. The influences of the Earth's magnetic field are discussed and displayed in terms of electric components and the Poynting vector. Results demonstrate that the geomagnetic field can significantly influence HF atmospheric propagation.