By: Fadi Steitie
**This is a correction from the EUR/USD signal posted on September 13, 2011
Currency: EUR/USD
Signal: Hold (Short)
Strategy: Elliott Waves
Description: Ending of correction wave (iv) at resistance level 1.37413
or 0.382 Fib level at channel resistance line heading downward targeting
final wave (v). Good luck to all traders
Note: Wave (iv) getting complex because of simple wave (ii). Usually complex waves gets 1, 2 or 3 maximum patterns marked X1, X2, X3 before it breaks. As shown in chart we are in final X3 pattern that hits 0.386 Fibonacci level which alerts us that wave is ending and getting very weak. I expect a sharp drop toward our target price anytime.
Target : 1.33970
Stop Loss: 1.38250