EURUSD, as you know, has been trapped in a triangle for the last few months, and it now looks like the market could be turning lower for a final wave E within this contracting range. At the start of 2026, we could see the pair moving into some interesting support areas where this pattern may complete. The first support comes in around 1.1657, followed by a deeper support near the 1.1561 area; zones where wave E could potentially come to an end. So for now, the move lower appears to be underway, especially after the break of channel support around 1.1750 at the end of December. But after this corrective phase is done, we would expect more upside on the euro.
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