{"id":14474,"date":"2025-08-06T18:26:10","date_gmt":"2025-08-06T18:26:10","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&#038;p=14474"},"modified":"2025-08-06T18:26:12","modified_gmt":"2025-08-06T18:26:12","slug":"eur-usd-correction-not-over","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/eur-usd-correction-not-over\/","title":{"rendered":"EUR\/USD Elliott Wave: Correction Not Over"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Executive Summary<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Wave 2 corrective decline has begun.<\/li>\n\n\n\n<li>The decline likely holds below 1.1830.<\/li>\n\n\n\n<li>Decline to 1.1030 &#8211; 1.1170 and possibly lower levels are anticipated.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Current Elliott Wave Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"767\" src=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/08\/EURUSD_2025-08-06_13-17-10-1024x767.png\" alt=\"\" class=\"wp-image-14478\" srcset=\"https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/08\/EURUSD_2025-08-06_13-17-10-1024x767.png 1024w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/08\/EURUSD_2025-08-06_13-17-10-300x225.png 300w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/08\/EURUSD_2025-08-06_13-17-10-768x576.png 768w, https:\/\/alchemymarkets.com\/wp-content\/uploads\/2025\/08\/EURUSD_2025-08-06_13-17-10.png 1173w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>It appears EURUSD is still embedded within a corrective dip from the July 1 high of 1.1830.<\/p>\n\n\n\n<p>This means the current decline is <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/elliott-wave-theory\/\">Elliott wave<\/a> 2 of a larger bullish impulse.<\/p>\n\n\n\n<p>Our Q3 forecast presented on <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/quarterly-forecast\/q3-2025-usd-relief-from-oversold\/\">June 30 forecasted<\/a> a top of wave 1 and decline in wave 2 to carry to 1.11-1.12. We followed up with another <a href=\"https:\/\/alchemymarkets.com\/education\/market-insights\/elliott-wave\/eur-usd-corrective-dive\/\">forecast on July 16<\/a> confirming a top and decline to 1.1170 and possibly lower levels.<\/p>\n\n\n\n<p>The decline, so far, has developed in 3 waves. The August 1 low could be wave ((w)) of 2 or possibly ALL of wave 2. The rebound since August 1 is viewed as wave ((x)) that may find a top below 1.1704. Then, wave ((y)) would begin to lower levels.<\/p>\n\n\n\n<p>I suspect after a brief rally, the decline will continue to dig deeper towards 1.1170.<\/p>\n\n\n\n<p>There is a lot of <a href=\"https:\/\/alchemymarkets.com\/education\/guides\/support-and-resistance\/\">price support<\/a> between 1.1030-1.1170. Therefore, anticipate a more meaningful bottom and possibly the end of wave 2 developing in this price zone.<\/p>\n\n\n\n<p>The 6-month rally in EURUSD appears to have ended this month and a correction is likely underway to 1.1170 and possibly lower levels.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bottom Line<\/h2>\n\n\n\n<p>The Elliott wave corrective wave 2 is mid-way through development as a double zigzag. This downward correction may visit 1.1030 &#8211; 1.1170 in the coming weeks.<\/p>\n\n\n\n<p>If EURUSD breaks out to new highs, then we\u2019ll reconsider the wave count for a more bullish structure.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Discover our latest EURUSD Elliott Wave analysis as a Wave\u202f2 correction toward 1.1170 is now unfolding\u2014learn where the next support shelf lies.<\/p>\n","protected":false},"author":160,"featured_media":14481,"parent":0,"comment_status":"open","ping_status":"closed","template":"","market_insights_categories":[16],"class_list":["post-14474","market_insights","type-market_insights","status-publish","has-post-thumbnail","hentry","market_insights_categories-elliott-wave"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>EUR\/USD Elliott Wave: Correction Not Over - Alchemy Markets<\/title>\n<meta name=\"description\" content=\"Discover our latest EURUSD Elliott Wave analysis as a Wave\u202f2 correction toward 1.1170 is now unfolding\u2014learn where the next support shelf lies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/elliott-wave\/eur-usd-correction-not-over\/\" \/>\n<meta property=\"og:locale\" content=\"it_IT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EUR\/USD Elliott Wave: Correction Not Over - 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