As our members know we have had many profitable trading setups recently. In this technical article, we are going to talk about another Elliott Wave trading setup we got in EURUSD. The pair has completed its correction exactly at the Equal Legs zone, also known as the Blue Box Area. In this article, we’ll break down the Elliott Wave forecast, explain the trading setup in detail, and provide the upside target.
EURUSD Elliott Wave 4 Hour Chart 07.28.2025
EURUSD is forming a 3 waves pullback against the 1.10619 low. While price remains below the red ((x)) connector, we believe the correction is still in progress and expect another leg lower toward the 1.1512-1.1340 area , where we are looking to re-enter as buyers. We recommend that members avoid selling EURUSD. We expect at least a three-wave bounce from the Blue Box area.Once the price reaches the 50% Fibonacci retracement against the black ((x)) connector, we will make the position risk-free by moving the stop loss to breakeven and booking partial profits.
EURUSD Elliott Wave 4 Hour Chart 08.19.2025
The pair has made drop toward our buying zone- Blue Box area. EURUSD found buyers as expected, making decent reaction. The rally from from the buying zone has exceeded 50 fibs against the (B) blue connector. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits. While price holds above 1.1388, we consider the wave ((4)) correction complete and see potential for wave ((5)) to be in progress toward new highs.
Short term : rally from the 1.1388 low shows 5 waves structure. Currently the pair is doing a 3 waves pull back which can complete around 1.1620-1.1559 area.
