EUR/USD Forecast: Impulse Wave Progressing Toward

The EUR/USD is currently exhibiting a well-defined impulsive structure following the completion of a corrective (ABC) phase. The market has successfully formed waves (1) and (2), and is now advancing within wave (3), which typically carries the most momentum in an Elliott Wave cycle.

The ongoing rally suggests wave (3) is targeting the 1.15350 level — a key Fibonacci projection area that aligns with previous structural resistance. Momentum remains strong, supported by bullish market structure and sustained buying pressure.

Should wave (3) conclude near this zone, a brief corrective pullback into wave (4) is anticipated, likely retracing toward the 1.14440–1.14730 support range. This would offer a potential entry opportunity before the market resumes its higher trajectory in wave (5), targeting the 1.16077 level.

T1: 1.14857
T2: 1.15090
SL: 1.13867