EUR/USD is extending higher in an impulsive structure [Video]

Elliott Wave Forecast Team ElliottWave-Forecast.com

The EURUSD currency pair is showing strong signs of continuing its upward trend, based on Elliott Wave analysis. Since its low on September 26, 2022, the pair has been climbing. However, it hasn’t yet hit its projected target of 1.19. This suggests more room to grow in the long term. For now, the pair remains a good opportunity for buyers as long as it doesn’t drop below the key support level of 1.0876.

Looking at a shorter time frame, starting from March 27, 2025, EURUSD is moving in a classic five-step upward pattern. The first step peaked at 1.1146, followed by a brief dip to 1.087. The pair then surged to 1.147, and pulled back slightly to 1.126. It is now expected to push higher to complete this short-term cycle. After that, a temporary dip is likely before the upward trend resumes.

In simple terms, as long as the pair stays above 1.0876 and hasn’t reached 1.19, any short-term declines should attract buyers in 3, 7, or 11 swing looking for more gains. Traders can watch for these dips as opportunities to join the bullish trend, with the next significant moves likely to unfold soon.

EUR/USD 60 minute Elliott Wave chart

EUR/USD Elliott Wave [Video]

Author

Elliott Wave Forecast Team

ElliottWave-Forecast.com

EUR/USD turns higher toward 1.1700 ahead of key US CPI data

EUR/USD erases losses and turns north toward 1.1700 in the European session on Tuesday. The pair draws support from renewed US Dollar struggle, as traders turn cautious ahead of the US CPI inflation data, due later in the day at 13:30 GMT.

GBP/USD rises toward 1.3500 as traders await US CPI report

GBP/USD picks up fresh bids and rises toward 1.3500 in European trading on Tuesday. Traders now await the US CPI data release for fresh direction on the US Dollar, which will significantly impact the pair's performance ahead.

Gold extends the range play below $4,600 and record high as traders await US CPI report

Gold remains on the defensive below the $4,600 mark through the first half of the European session though it remains close to the all-time peak, touched the previous day, amid a supportive fundamental backdrop. The US Dollar gains some positive traction following the previous day's decline and turns out to be a key factor acting as a headwind for the commodity.

CPI Data expected to show stable inflation in December with limited implications for Fed policy

The US Bureau of Labor Statistics will publish December’s Consumer Price Index report on Tuesday at 13:30 GMT. The report is expected to show that prices remained broadly stable in the last month of 2025. It’s a key read on inflation and could stir some short-term moves in the US Dollar.

More pressure on the Federal Reserve emerges

News broke on Sunday night that the Federal Reserve received grand jury subpoenas from the Department of Justice on Friday, escalating the Trump administration's pressure on the nation's central bank.

Meme Coins Price Prediction: DOGE, SHIB, and PEPE bulls struggle to regain strength

Meme coins, including Dogecoin, Shiba Inu, and Pepe remain under extreme selling pressure, recording roughly seven days of downtrend following the January 4 spike. The meme coins risk a bearish shift in momentum as buying pressure subsides, potentially leading to further declines.