The near‑term Elliott Wave analysis for EURUSD shows a five‑wave impulsive pattern emerging from the August 21 2026 peak. Wave (i) ended at 1.1566, after which a corrective wave (ii) rose to 1.1654. The price then resumed its downward move in wave (iii), which itself contains a smaller five‑wave sequence. In that inner sequence, wave i settled at 1.145 and wave ii pulled back slightly to 1.1495.
The decline continued in wave (iii) to 1.1359 before a modest rally in wave (iv) brought the price back to 1.141. At present, wave v of (iii) appears to be nearing its end. Upon completion, a corrective bounce in wave (iv) is expected, offering only a temporary pause before the larger downtrend resumes. In the short term, as long as the 1.1654 level holds, any upward moves are likely to fail within three‑ or seven‑swing corrective patterns, reinforcing the bearish bias and pointing to additional downside potential.
EURUSD 60 Minute Elliott Wave Chart
EURUSD Elliott Wave Video
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