Elliott Wave Outlook (Wave C in Progress?)

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Key Technical Zones:

Demand Zone: 0.9750 – 1.0350 (Support from Wave B low)

Supply Zone: 1.1600 – 1.2000 (Potential Wave C target)

Current Price: 1.0959

Support Levels: 1.0730, 1.0350

Resistance Levels: 1.1250, 1.1600


Outlook:
Bullish bias remains intact for Wave C as long as the pair holds above 1.0730. Any deeper pullback into the demand zone could still be part of a healthy correction, offering long opportunities on confirmation. Keep an eye on macroeconomic data, especially from the U.S. (FOMC, CPI) and EU (ECB stance), as they may heavily influence EUR/USD sentiment in the coming weeks.

Conclusion:
Watch for bullish continuation setups toward the supply zone, but remain cautious of a mid-term rejection pattern, which could trigger a deeper correction. Trade safely, and always use proper risk management.

Current Scenario:

Price is now trading near 1.0950, suggesting a potential Wave C rally in progress.

If Wave C unfolds as anticipated, EUR/USD could approach the supply zone marked between 1.1600–1.2000, which aligns with previous structural resistance and Fibonacci retracement levels.

However, a false breakout or early rejection from current levels could lead to a sharp retracement, possibly retesting the demand zone before any major upside continuation.

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