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  4. EUR/USD Signal - January 30, 2012
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EUR/USD Signal - January 30, 2012

By Fadi Steitie
Fadi Steitie
By Fadi Steitie

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

*Trader's Note - This signal is no longer valid, but stay tuned for further market updates on your favorite currency pairs.

Currency: EUR/USD
Trend Expected Direction: Channel Up
Strategy: Elliott Waves and Fibonacci Trading.
Description: I will not get into economic figures here to justify my thought of the pair movement towards ABC equality but will wait for economic calender events next week. I still believe the pair is in final wave v up targeting 1.618 Fibonacci level at a target price 1.32600 or around it. That is possible for one day trade.
Action: Hold Long.
Target Area: 1.32600.
Stop Lose: 1.31360.

EUR/USD Signal - January 30, 2012

Get more of today’s free Forex signals from this pro trader:
AUD/USD Signal – January 30, 2012
GBP/USD Signal – January 30, 2012
 

Fadi Steitie
About Fadi Steitie

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.

 

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