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
