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.
Currency: EUR/USD
Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Levels
Description:With a clear divergence in RSI along with 2.618 Fibonacci golden level at price 1.25300, I would suggest again buying the pair at this support level for getting the most of expecting bounce with a form of correction. I will leave the target open at the moment to offer a range of trade for the pair.
Recommendation: Buy & Hold
Target Area: Open
Stop Loss: 1.24800
