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  4. EUR/USD Signal May 23, 2012
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EUR/USD Signal May 23, 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

Currency: EUR/USD
Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Levels
Description: With Green Back is almost reaching its top level after a strong bullish move, I expect the EUR/USD has already formed a flat pattern started 1.26450 with one Zigzag and expanded (b) and here I expect wave (c) to take off soon after it formed a hammer just at the support level 1.26450. I would suggest traders to go with small lots and increase just when pattern breaks 1.26820 level.
Recommendation: Buy & Hold
Target Area: Open
Stop Loss: 1.2600

EURUSD Signal 52312

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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