Automatic wave scan: as of 4 Nov 2026, the automatic daily count for EUR/USD is Wave 5 up with a bullish bias. The count stays valid while price holds 1.1110.
Current EUR/USD wave count
Automatic wave scan Updated daily from the latest daily close (4 Nov 2026). Computer generated from swing highs and lows, not reviewed by an analyst.
Automatic scan: price is in wave 5, the final leg of a five wave advance that began at 1.1325 on 23 Jun 2026. Next levels to watch are 1.1284 and 1.1366. The count fails on a daily close below 1.1110.
Key levels
| Type | Levels |
|---|---|
| Resistance | 1.1270 · 1.1712 |
| Support | 1.1110 · 1.1114 |
| Invalidation | 1.1110 |
What is EUR/USD?
EUR/USD prices the euro, used by 21 countries in the euro area, against the US dollar, the world's main reserve currency. A rise means the euro is getting stronger; a fall means the dollar is getting stronger.
The Bank for International Settlements surveys world currency trading every three years, and EUR/USD has been the most traded pair in every survey. This depth keeps spreads tight and makes the pair a favorite for both banks and retail traders.
What moves the EUR/USD price?
- Interest rate gap: When the Federal Reserve holds rates above the ECB, the dollar usually gains. Expectations for future cuts or hikes often matter more than the decision itself.
- US data: Monthly US jobs reports and inflation (CPI) releases cause some of the largest daily moves.
- Euro area growth: Weak German industry or energy shocks tend to weigh on the euro.
- Risk mood: In global stress, money often flows into the dollar as a safe haven, which pushes EUR/USD down.
How EUR/USD moves in Elliott Wave terms
EUR/USD tends to move in long, steady trends that last many months, broken by overlapping corrections. Because the pair is so liquid, its waves are usually clean and respect Fibonacci levels well. Wave 4 corrections often form triangles or flats, and many traders use EUR/USD to learn these patterns.
Daily ranges are smaller than in crypto or stocks, so an average day covers well under 1 percent. This means wave targets are measured in pips, and patience is needed for larger degree waves to complete.
Tips for counting EUR/USD waves
Mark the London and New York session overlap, when volume is highest and impulsive moves often start. Check the US economic calendar before trading near a key wave level.
EUR/USD key facts
EUR/USD Elliott Wave FAQ
Why is EUR/USD the most traded pair?
It pairs the two largest currency blocs in the world. Global trade, investment flows and central bank reserves keep demand very high, which the BIS survey confirms every three years.
What moves EUR/USD the most?
The expected interest rate gap between the Federal Reserve and the European Central Bank, plus major US data such as jobs and inflation.
When is EUR/USD most active?
During the overlap of the London and New York sessions, roughly 13:00 to 17:00 GMT.
Sources and further reading
- BIS Triennial Central Bank Survey of foreign exchange turnover (Bank for International Settlements)
- Monetary policy decisions (European Central Bank)
- Federal Open Market Committee (Federal Reserve)
Educational content only. Nothing on this page is financial advice or a recommendation to buy or sell. Trading involves risk and you can lose money. Elliott Wave counts are probabilities, not certainties. Read our full disclaimer and affiliate disclosure.
