The short‑term Elliott Wave outlook for EURUSD indicates that a five‑wave impulsive structure is developing from the August 21, 2026 high. From that peak, wave (i) concluded at 1.1566, followed by a corrective rally in wave (ii) that terminated at 1.1654. The pair then resumed its decline in wave (iii), which is unfolding with internal subdivision into another five‑wave sequence of lesser degree. Within this sequence, wave i ended at 1.145, while wave ii retraced modestly to 1.1495.
The market continued lower in wave iii, reaching 1.1359, before a brief rally in wave iv that ended at 1.141. Current price action suggests that wave v of (iii) is nearing completion. Once this segment concludes, EURUSD should enter a corrective bounce in wave (iv), which will provide temporary relief before the broader decline resumes. In the near term, as long as the pivot at 1.1654 remains intact, rallies are expected to fail within corrective formations of three or seven swings. This reinforces the bearish outlook and signals that further downside remains likely.
EURUSD 60 Minute Elliott Wave Chart
EURUSD Elliott Wave Video
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