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USD
EUR/USD
The Euro traded cautiously around $1.1640, pressured by lingering worries over global trade tensions and slowing eurozone growth.
GBP/USD
The Pound Sterling found some support at $1.3411 from hawkish BoE expectations and an improved IMF growth outlook for the UK.
USD/JPY
The South African Rand gained to 16.65 against the US dollar, supported by stronger gold and platinum prices while investors await local inflation data due tomorrow.
USD/MUR
The Dollar–Rupee cooled to 47.9170 (selling) this morning.
4:00 PM EUR ECB's Lane speech
4:15 PM USD ADP Employment Change 4-week average
4:30 PM CAD BoC Consumer Price Index Core (MoM) (Apr)
4:30 PM CAD BoC Consumer Price Index Core (YoY) (Apr)
4:30 PM CAD Consumer Price Index (YoY) (Apr)
6:00 PM USD Pending Home Sales (MoM) (Apr)
Technical News – EUR/USD
Double Zig-Zag (WXY) Structure; Larger-Degree Wave X Still Unfolding
Following a peak at $1.2078 on 26 January 2026, EUR/USD has retraced part of its 2025 gains, falling to $1.1411 before recovering toward the $1.17 area.
From an Elliott Wave perspective, the pair appears to have completed wave W and is currently unfolding a larger-degree wave X within a broader double zig-zag corrective structure (WXY). While elements of wave X's internal structure appear relatively mature, the overall corrective phase is still in progress.
The recent recovery toward $1.17 is therefore interpreted as part of this ongoing wave X, rather than the start of a new impulsive sequence. As such, once wave X completes, the pair is expected to transition into wave Y, resuming the broader corrective decline.
In this context, a move lower is anticipated over the coming months. In the near term, an initial downside target is seen at $1.1100, which marks a key support zone defined by the Fibonacci retracement (0.382) and the previous fourth wave of a lesser degree. Further downside extension remains possible as wave Y develops.
On the upside, a sustained break above the $1.20–$1.2078 area would invalidate the current WXY corrective scenario.
