EURAUDEUR/AUDOANDA:EURAUDFin_free_figt🔹 Chart Overview •Pair: EUR/AUD •Timeframe: 1W (Weekly) •Source: OANDA •Method: Elliott Wave + Supply/Demand Zones ⸻ 🔹 Elliott Wave Structure Phase 1 — Completed Correction •The chart shows a triple correction (W–X–Y–X–Z) pattern from 2020–2023. •After that, a five-wave impulsive rally (1–2–3–4–5) has completed, labeled as wave (A) of a higher degree. •Then, a corrective structure (B) followed, forming a complex W–X–Y pattern that ended around early 2024. ⸻ Phase 2 — Current Structure (Ongoing) •From mid-2024 onwards, the chart shows the formation of a contracting triangle (A–B–C–D–E). •This is part of wave (B) or (X) before the next impulsive leg up. ⸻ 🔹 Key Zones 1.Demand Zone (Support Area) •Around 1.72 – 1.74 region. •Price is currently near this zone — the expected wave E completion point. 2.Triangle Formation •Price is compressing between lower (support) and upper (resistance) boundaries. •Once wave E finishes near the demand zone, a bullish breakout is anticipated. ⸻ 🔹 Expected Movement 1.Price may slightly dip into the demand zone to complete wave E. 2.After that, a strong upward breakout is expected to begin wave (C) or wave Z. 3.The projected target (as per chart) is significantly higher — potential move above 1.90+ range.