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  4. EUR/USD Signal March 30, 2012
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EUR/USD Signal March 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

Currency:EUR/USD
Trend Expected Direction: Down within a falling channel.
Method: Elliott Waves and Fibonacci Trading.
Description: Again with a leading diagonal pattern completed its fifth (e) wave down to 1.32520 followed be a correction Zigzag hits 0.764 Fibonacci level at 1.33400 with extended Zigzag reached 100%. Trend jumped a little higher forming a Tweezer Top Candles as shown in black circle. However, I do believe this cycle is wave (II) or (B) ends and further drop for larger wave (III) or (C) is coming on the way! I am
going to short the pair looking for further drop. Good luck on this trade.
Recommendation: Short and Hold
Target Area:Open
Stop Loss: 1.3400

EUR/USD Daily 3/30/12

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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