Hello fellow traders. In this technical article we’re going to take a quick look at the Elliott Wave charts of EURUSD , published in members area of the website. As our members know, EURUSD is still trading within the cycle from the September’s peak. Recently, we saw a 3-wave recovery, followed by a decline toward new lows as expected. In the further text, we are going to explain the wave count.
EURUSD H1 New York 01.07.2025
The current view suggests that EURUSD pair completed a 3-wave recovery at 1.0437 peak , labeled as wave ((ii)) black. A sharp drop followed from this high, appearing impulsive . We have labeled this short-term cycle as wave i red. As far as the price stays below 1.0437 high, we believe next leg down can be in progress. We expect EURUSD to continue finding intraday sellers in 3, 7, and 11 swings.
EURUSD H1 Weekend update 01.11.2025
The 1.0437 high held as expected. We got a decent decline when the price broke toward new lows, confirming wave ((iii)) is in progress. We don’t recommend buying the pair yet, and expect to see further weakness in upcoming days.
