EUR/USD: Catching the 220 pip move lower and hitting the 2R target

Technical analysis from the Elliott Wave Forecast team outlines a successful short position on EUR/USD, initiated after the currency pair encountered a major bearish supply zone alongside a bearish divergence pattern. The short trade was entered on August 26, 2026, at the 1.1690 level on the four-hour chart, establishing a structured trade setup with a defined 2R risk-to-reward target. On September 16, 2026, EUR/USD successfully reached the projected profit target at 1.1470, securing a 220-pip decline. With a standard 1% risk allocation per setup, the executed trade delivered a +2% return. The analysts highlighted the necessity of aligning multiple technical indicators and strategy frameworks before trade execution to enhance overall trading probability and market clarity.