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.
Method: Elliott Waves and Fibonacci Trading.
Description: Larger (C) leg is expected to unfold upward Zigzag after a minor expanded flat ended at 1.30570 as shown on chart. This larger correction should end near 1.31800 in order to complete 100% of wave (A).
Trend Expected Direction: UP
Recommendation: BUY
Target Area: 1.31800
Stop Loss: 1.3000
