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  4. USD Trend Forecast - March 27, 2012
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USD Trend Forecast - March 27, 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: US Dollar
Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Trading.
Description: I would like to share with you my thought of US Dollar expected move because it will effect my yesterday trading signals for EUR/USD and EUR/JPY. A completed Zigzag correction fall off 10,087 down to 9,910 testing 0.50 Fibonacci level with a 27.65 RSI which considered in over sold position. This scenario indicate a larger wave II is probably in place and wave III to come in weeks to come! If my prediction was accurate, that will pull back EUR/USD and EUR/JPY down as expected yesterday. By keeping this in mind, I would hold my short positions for both pairs (EUR/USD, EUR/JPY) with their stop lose levels and waiting for economic news to shake the market to predicted direction. Stay tuned!
Recommendation: Watch the move
Target Area: N/A
Stop Loss: N/A

US Dollar Movement March 27, 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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