EUR/USD Elliott Wave: Forecasting the rally from the equal legs area

Elliott Wave Forecast Team ElliottWave-Forecast.com

In this technical article, we’re going to look at the Elliott Wave charts of EUR/USD forex pair published in members' area of the website. As our members know, we are long in the pair, as explained in our. The pair has recently given us pull back against the 1.10625 low and found the buyers precisely at the equal legs area as we expected. In the following text, we’ll explain the Elliott Wave analysis and present target areas.

EUR/USD Elliott Wave one-hour chart 05.28.2025

EUR/USD is currently forming a three-wave pullback against the 1.10625 low. The correction appears incomplete and is unfolding as a double three pattern — (w)-(x)-(y). Our members are aware that we can pinpoint the potential reversal area by measuring the Equal Legs zone, where wave (y) is related to wave (w). This zone aligns with the 1.1215 area. We expect buyers to emerge within this region and anticipate a continuation of the rally.

EUR/USD Elliott Wave one-hour chart 05.29.2025

The pair has reached our target area. While there is still a possibility of another short-term low within this zone, we do not recommend selling. The minimum requirements for a completed structure are already in place, and a reversal to the upside could occur at any moment.

EUR/USD Elliott Wave one-hour chart 05.30.2025

The pair found buyers as expected in the Equal Legs area and has delivered a decent rally so far. We now look for a break above the May 26th peak to confirm a further extension to the upside toward the 1.1558 area.

Remember, the market is dynamic, and the presented view may have changed in the meantime. For the most recent charts and target levels, please refer to the membership area of the site. The best instruments to trade are those with incomplete bullish or bearish swing sequences.

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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