EUR/USD Elliott Wave outlook: Impulsive rally back in play [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

EURUSD has resumed its advance within an impulsive Elliott Wave structure, reinforcing the bullish outlook. The cycle from the November 5, 2025 low is unfolding as a clear five‑wave sequence. Wave 1 concluded at 1.1808, establishing the initial leg of the rally. The subsequent pullback in wave 2 developed as a double three corrective formation, reflecting typical Elliott Wave behavior in consolidations.

From the peak of wave 1, wave ((w)) ended at 1.1659, followed by a corrective rally in wave ((x)) that terminated at 1.1742. The final leg of the correction, wave ((y)), pushed lower and ended at 1.1575. This completed wave 2 at a higher degree and set the stage for renewed upside momentum. Since then, the pair has resumed higher in wave 3, confirming the impulsive structure.

Advancing from wave 2, wave ((i)) ended at 1.1768, while the subsequent dip in wave ((ii)) found support at 1.167. Current price action suggests that wave ((iii)) is approaching completion. Once it concludes, a pullback in wave ((iv)) should follow before the pair continues higher in wave ((v)). In the near term, as long as the pivot at 1.1575 remains intact, dips are expected to find support. These retracements should unfold in 3, 7, or 11 swings, providing opportunities for further upside continuation within the broader impulsive cycle.

EUR/USD 60 minute chart

EUR/USD Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

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