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
