EURUSD 5‑Swing Structure From July 2 High Signals More WeaknessEURO / U.S. DOLLARFX_IDC:EURUSDElliottwave-ForecastEURUSD maintains an incomplete bearish sequence from the January 27, 2026 peak, leaving room for further downside. The projected target zone is defined by the 100% to 161.8% Fibonacci extension from the January 27 high, which falls between 1.076 and 1.117. This extension range provides a precise technical framework for anticipating the next leg lower. In the near term, the cycle from the July 2, 2026 high has unfolded into a five‑swing decline, reinforcing the bearish bias and signaling additional weakness. From the July 2 high, wave ((i)) concluded at 1.139 as a diagonal structure. A corrective rally in wave ((ii)) terminated at 1.146, after which the pair resumed its downward trajectory in wave ((iii)). The internal subdivision of wave ((iii)) is unfolding as another five‑wave impulse. Within this structure, wave (i) ended at 1.138, while wave (ii) retraced to 1.145. These developments confirm that the decline remains active and incomplete. As long as the pivot at 1.147 holds, rally should fail in 3 or 7 swing and EURUSD is expected to continue pressing lower. A decisive break below the June 24 low at 1.1324 is required to eliminate the possibility of a double correction.