EUR/USD Elliott Wave update: Upward momentum resumes [Video]
|The EURUSD Elliott Wave sequence initiated from the September 2022 low reveals an incomplete bullish structure, signaling potential for further upside. A short-term rally from the May 29, 2025 low is currently unfolding as a five-wave impulse. As depicted in the 1-hour chart below, wave ((i)) peaked at 1.16319. A corrective wave ((ii)) followed which concluded at 1.14435. The internal structure of wave ((ii)) formed a zigzag pattern, with wave (a) declining to 1.1486 and wave (b) rebounding to 1.1614. Wave (c) completed the correction at 1.144, finalizing wave ((ii)) in the higher degree.
EUR/USD 60-Minute Elliott Wave technical chart
The pair has resumed its ascent in wave ((iii)), exhibiting an impulsive internal subdivision. From the wave ((ii)) low, wave i advanced to 1.1544, followed by a minor dip in wave ii to 1.1451. Wave iii surged to 1.1641, with a subsequent wave iv pullback ending at 1.1587. The final leg, wave v, culminated at 1.1745, completing wave (i) in the higher degree. A corrective wave (ii) pullback, likely a three-wave zigzag, appears to have concluded at 1.1678. However, a break above the wave (i) high at 1.1745 is required to negate the possibility of a double correction lower. Given the shallow nature of the wave (ii) pullback, the risk of a deeper correction remains. However, as long as the pivotal low at 1.144 holds, dips should attract buyers in 3, 7, or 11 swings, supporting further upside momentum.
EUR/USD Elliott Wave technical video
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