EUR/USD: Elliott wave analysis and forecast for 25.07.25 – 01.08.25
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider long positions from corrections above the level of 1.1555 with a target of 1.2050 – 1.2400. A buy signal: the price holds above 1.1555. Stop Loss: below 1.1515, Take Profit: 1.2050 – 1.2400.
- Alternative scenario: Breakout and consolidation below the level of 1.1555 will allow the pair to continue declining to the levels of 1.1210 – 1.1060. A sell signal: the level of 1.1555 is broken to the downside. Stop Loss: above 1.1590, Take Profit: 1.1210 – 1.1060.
Main scenario
Consider long positions from corrections above the level of 1.1555 with a target of 1.2050 – 1.2400.
Alternative scenario
Breakout and consolidation below the level of 1.1555 will allow the pair to continue declining to the levels of 1.1210 – 1.1060.
Analysis
On the daily timeframe, a downward correction has completed as the second wave (2), and the third wave (3) is now unfolding. Apparently, the first counter-trend wave of smaller degree 1 of (3) is forming on the H4 timeframe, with wave v of 1 developing as its part. On the H1 chart, wave (iii) of v appears to have formed, a local correction is presumably complete as wave (iv) of v, and wave (v) of v is unfolding. If the presumption is correct, the EUR/USD pair will continue to rise to the levels of 1.2050 – 1.2400. The level of 1.1555 is critical in this scenario. Its breakout will allow the pair to continue falling to the levels of 1.1210 – 1.1060.
This forecast is based on the Elliott Wave Theory. When developing trading strategies, it is essential to consider fundamental factors, as the market situation can change at any time.
Price chart of EURUSD in real time mode
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