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EUR/USD: See What a Third-of-a-Third Elliott Wave Setup Looks Like

By Elliott Wave International

On February 28, long before "Liberation Day," Elliott Wave International's Currency Pro Service editor, Michael Madden, recorded a video for his subscribers with this chart and forecast:

"5 waves down from 1.0529 will complete this pattern. From there, we'll expect a dramatic reversal to kickstart a third-of-a-third advance. At this juncture, keep the immediate focus lower but on the lookout for wave ii to end."

Result: EUR/USD followed the Elliott wave script to perfection, reversing sharply and SKYROCKETING above $1.14.

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This article was syndicated by Elliott Wave International and was originally published under the headline EUR/USD: See What a Third-of-a-Third Elliott Wave Setup Looks Like. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

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Wave labeling color code as follows (note – [brackets] used in lieu of circles for convenience sake) :
Grand Supercycle – BLUE – [I] [II] [III] [IV] [V] – [a] [b] [c]
Supercycle – GREEN – (I) (II) (III) (IV) (V) – (a) (b) (c)
Cycle – PINK – I II III IV V – a b c
Primary – BLACK – [1] [2] [3] [4] [5] – [A] [B] [C]
Intermediate – RED – (1) (2) (3) (4) (5) – (A) (B) (C)
Minor – BLUE – 1 2 3 4 5 – A B C
Minute – GREEN – [i] [ii][iii] [iv] [v] – [a] [b] [c]
Minuette – PINK – (i) (ii)(iii) (iv) (v) – (a) (b) (c)
Subminuette – BLACK – i ii iii iv v – a b c
Micro – RED – [1] [2] [3] [4] [5] – [A] [B] [C]
Submicro – BLUE – (1) (2) (3) (4) (5) – (A) (B) (C)
Miniscule – GREEN – 1 2 3 4 5 – A B C

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About Me

I like to blog about Elliott Waves. I can be reached at daneric40 AT comcast.net

Elliott Wave Update ~ 17 Feb 2022

Posted on February 18, 2022Author Daneric

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