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  4. EUR/USD Signal - March 7, 2012
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EUR/USD Signal - March 7, 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: End of first wave toward 1.20 level. A short risky correction will progress after ending diagonal just hit 2.618 Fibonacci level as shown on chart. Usually I don't trade such a patterns but for traders who love risky trades would enjoy such a scenario. This is a short term trade last for a day or two.
Action: Close short and buy pair
Target Area: 1.3300
Stop Loss: 1.30500

EUR/USD Signal - March 7, 2012

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.

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