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  4. EUR/USD Signal- July 13, 2012
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EUR/USD Signal- July 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: Flat
Method: Elliott Waves and Fibonacci Levels
Description:After a long waiting for EUR/USD to drop below its end with expanded 4th wave and diagonal drop that hits its 2.618 (Blow Square) and bounced by breaking the momentum (Red Circle) that indicate of expected reversal. I just bought the pair with small lots for expected wave one only and will increase my lots latter when trend progress. I will post update on that trade but I request all followers to watch their stop lose and to shift it lower when needed. Good luck
Recommendation: Buy & Hold with a small Lots
Target Area: Open
Stop Loss: 1.21250

EURUSD Signal 71312

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.

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