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  4. EUR/USD Signal Update - March 26, 2012
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EUR/USD Signal Update - March 26, 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: Upward Zigzag cycle is coming to equality or AB=BC and the golden ratio of today would most probably be 0.764 Fibonacci level at price point 1.33700. Let me dig into a little details of morning post...As expected wave ii hit the target level and wave iii is almost completed and what remain are two minor waves iv and v to end cycle destination at 1.33700. However, this drop is expected anytime when trend reach its upper limit and I left my stop lose at 1.3500 but will change it soon the trend breaks out! I am pure technical on this trade as no news yet affecting the trend to change direction.
Recommendation: Sell at near 1.33650/80
Target Area: Open
Stop Loss: 1.3500

EUR/USD Signal Follow Up - March 26, 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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