Short Term Elliott Wave view in EURUSD suggests rally from 2.3.2025 low is in progress as a 5 waves impulse. Up from there, wave 1 ended at 1.0528 and pullback in wave 2 ended at 1.036. Wave 3 higher ended at 1.0955 as the 1 hour chart below shows. Pullback in wave 4 is now in progress with internal subdivision as a zigzag Elliott Wave structure.
Down from wave 3, wave (i) ended at 1.0857 and rally in wave (ii) ended at 1.0917. Pair then extended the decline in wave (iii) towards 1.081 and wave (iv) correction ended at 1.086. Final wave (v) ended at 1.079 which completed wave ((a)) of the zigzag structure in higher degree. Rally in wave ((b)) then ended at 1.0858. Wave ((c)) lower is now in progress as a 5 waves. Down from wave ((b)), wave (i) ended at 1.077 and wave (ii) ended at 1.083. Expect pair to extend a few more low to finish wave (v) of ((c)) of 4 before it resumes higher again. Near term, as far as pivot at 1.095 high stays intact, expect rally to fail in 3, 7, or 11 swing for more downside.
Down from wave 3, wave (i) ended at 1.0857 and rally in wave (ii) ended at 1.0917. Pair then extended the decline in wave (iii) towards 1.081 and wave (iv) correction ended at 1.086. Final wave (v) ended at 1.079 which completed wave ((a)) of the zigzag structure in higher degree. Rally in wave ((b)) then ended at 1.0858. Wave ((c)) lower is now in progress as a 5 waves. Down from wave ((b)), wave (i) ended at 1.077 and wave (ii) ended at 1.083. Expect pair to extend a few more low to finish wave (v) of ((c)) of 4 before it resumes higher again. Near term, as far as pivot at 1.095 high stays intact, expect rally to fail in 3, 7, or 11 swing for more downside.
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