EURCHF Elliott Wave: Potential Wave Four Pullback Before Another Move Higher

EURCHF has been recovering quite nicely over the last few months, and the structure of the advance looks potentially impulsive. The move from the May swing low has now extended beyond the equality level, suggesting that this could be wave three of a larger five-wave advance from the March lows.

If this count is correct, the pair could soon enter a wave four pullback before eventually making another push higher in wave five. The current area around 0.9476 could be important, as this was also a significant swing resistance level from August 2025. A rejection from this area could therefore trigger a corrective setback, with the 0.9370–0.9300 zone being the first important support area to watch.

As long as the pullback remains corrective and support holds, the bullish structure would remain intact. After wave four is complete, we could then see another impulsive move higher in wave five, potentially taking EURCHF to fresh recovery highs.

Big Picture

Looking at the bigger picture, the recovery from around 0.9000 is becoming increasingly interesting. If EURCHF completes a full five-wave advance from those lows this year, it could signal a much more important change in the larger trend rather than just another short-term recovery. On the weekly chart it may have a completed five-wave bearish impulse.

Such a structure would support the idea that a multi-year recovery may be developing. For now, however, we should focus on the potential wave four pullback and see whether the 0.9370–0.9300 support zone can hold before looking for the next leg higher.