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  4. EUR/USD Signal- June 13, 2012
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EUR/USD Signal- June 13, 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.

Currency: EUR/USD
Trend Expected Direction: Up
Method: Elliott Waves and Fibonacci Levels
Description: Wave (c) after expanding triangle has already stated with minor waves 1,2,3,4 and expanded 5th is going to unfold in order to move to 2.618 Fibonacci level and to complete a full corrective cycle. I am long on this short trade in this pair. This pair is in a complex corrective cycle although I think it might hit 1.3250 level as per a reactive pattern in weeks to come.
Recommendation: Buy & Hold
Target Area: 1.2650
Stop Loss: 1.25000

EURUSD Signal 61312

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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