EUR/AUD is flashing the early signs of a new short trading opportunity, with the latest chart pointing toward a fresh move lower as the corrective phase may be wrapping up.
What the Current Structure Shows (Primary Scenario)
Corrective Pattern Complete: The strong advance off the May 14th, 2025 lows at 1.7247 unfolded as a classic double zigzag (WXY), culminating at recent highs. Price action has since reversed and formed an initial impulse down—clear evidence that the correction may be over.
Wave 1 Down, Expanded Flat for Wave 2: The chart now displays a completed wave 1 on the downside, followed by an expanded flat for wave 2—where price retraced upward but failed to break the previous peak, a sign of fading bullish momentum.
The recent structure shows a sharp, impulsive move down (wave 1), fitting Elliott Wave expectations for a new trend immediately after a complex correction.
The expanded flat for wave 2—where the B wave exceeded the start of A and C pushed higher—typically heralds a strong, extended wave 3. This supports a bearish outlook from current levels.
What the Current Structure Shows (Primary Scenario)
Corrective Pattern Complete: The strong advance off the May 14th, 2025 lows at 1.7247 unfolded as a classic double zigzag (WXY), culminating at recent highs. Price action has since reversed and formed an initial impulse down—clear evidence that the correction may be over.
Wave 1 Down, Expanded Flat for Wave 2: The chart now displays a completed wave 1 on the downside, followed by an expanded flat for wave 2—where price retraced upward but failed to break the previous peak, a sign of fading bullish momentum.
The recent structure shows a sharp, impulsive move down (wave 1), fitting Elliott Wave expectations for a new trend immediately after a complex correction.
The expanded flat for wave 2—where the B wave exceeded the start of A and C pushed higher—typically heralds a strong, extended wave 3. This supports a bearish outlook from current levels.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.