Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals with DailyForex.com based on his keen understanding of the market. His favorite pair is EUR/ USD because almost 40% of traders trade this pair and it does match most of his pattern recognition strategies. He is an expert in Elliot Wave principles as well as Ichimoku Kinko Hyu which he is currently researching. So far he has not seen many English translated books about this method of technical analysis, however he is continuing to read about it and believe this method has as much to give to traders like the Elliot Waves method does. Fadi is looking for the magic behind this principle even though many do not research this trading system.
By: Fadi Steitie
Currency: USD/CAD
Trend Expected Direction: Up
Strategy: Elliott Waves and Fibonacci Trading
Description: End of a flat wave reaching 0.500 or 0.618 Fib level. I suggest a long action once price reach that level @ 1.00200 or @1.00500.
Action: long @ 1.00200 or 1.00500 on a dip.
Target Area: Open
Stop Loss: 0.99600
Good luck !!
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AUD/NZD Signal - November 3, 2011