EUR/USD: Elliott wave analysis and forecast for 09.05.25 – 16.05.25 | LiteFinance
The article covers the following subjects:
Major Takeaways
- Main scenario: Consider short positions from corrections below the level of 1.1380 with a target of 1.1055 – 1.0900. A sell signal: the price holds below 1.1380. Stop Loss: above 1.1420, Take Profit: 1.1055 – 1.0900.
- Alternative scenario: Breakout and consolidation above the level of 1.1380 will allow the pair to continue rising to the levels of 1.1750 – 1.2050. A buy signal: the level of 1.1380 is broken to the upside. Stop Loss: below 1.1340, Take Profit: 1.1750 – 1.2050.
Main scenario
Consider short positions from corrections below the level of 1.1380 with a target of 1.1055 – 1.0900.
Alternative scenario
Breakout and consolidation above the level of 1.1380 will allow the pair to continue rising to the levels of 1.1750 – 1.2050.
Analysis
On the daily chart, the first ascending wave of larger degree (1) is formed, and the bearish correction is completed as the second wave (2). On the H4 time frame, the third wave of larger degree (3) has started unfolding, with the first counter-trend wave of smaller degree 1 of (3) forming as its part. Wave iii of 1 is formed on the H1 chart, and a local correction continues developing as wave iv of 1, with wave (c) of iv unfolding as its part. If the presumption is correct, EUR/USD will continue to drop to the levels of 1.1055 – 1.0900. The level of 1.1380 is critical in this scenario. Its breakout will allow the pair to continue rising to the levels of 1.1750 – 1.2050.
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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