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  4. EUR/USD Signal- May 15, 2012
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EUR/USD Signal- May 15, 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: DailyForex.com

Currency: EUR/USD
Trend Expected Direction: Down
Method: Elliott Waves and Fibonacci Levels
Description: Euro is reaching its final destination toward 1.27500 by unfolding in Elliott term expanded fifth wave in wave C of a falling Zigzag! Wave v will travel toward 2.618 Fib level once wave 4 hits its 0.382. Technically that will complete a 100% wave C in comparison to earlier wave A that started on 1st of May at 1.32760 and ended on 6th May at 1.29600. I wouldn't recommend traders to invest a big lots in the final expanded fifth due to its unexpected character and risk.
Recommendation: Hold short for final battle
Target Area: 1.27500
Stop Loss: 1.29250

EURUSD Signal 51512

Fadi Steitie
About 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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