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EURUSD shows Elliott Wave five-wave decline from August 21 high
Action Forex says wave (iii) reached 1.1359 before a rebound to 1.141, and that wave v of (iii) appears close to finishing.
Action Forex’s short-term Elliott Wave read on EURUSD says the pair is developing a five-wave impulsive structure from the August 21, 2026 high. The outlet says wave (i) ended at 1.1566, followed by a corrective rally in wave (ii) that topped at 1.1654.
The analysis then points to EURUSD continuing lower in wave (iii), now unfolding with smaller subdivisions. Action Forex says wave i in that sequence ended at 1.145, wave ii retraced to 1.1495, and wave iii fell to 1.1359.
Action Forex adds that a brief rally labeled wave iv ended at 1.141, and that current price action suggests wave v of (iii) is nearing completion. The outlet says once wave v finishes, EURUSD should enter a corrective bounce in wave (iv), while rallies are expected to fail within corrective formations if the 1.1654 pivot holds.