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  4. EUR/USD Signal- September 5, 2012
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EUR/USD Signal- September 5, 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: A falling diagonal has reached its maximum at D wave (Not shown on chart) on July 24 at 1.20465, a new motive wave took of with expanded 3ed. Within the 3ed wave, a smaller cycle forming a five waves up (Shown on Chart). In its 5th going to (iii), the third complex zigzag is expected to target 1.618 of 4/a wave which should touch 1.2700 level. I recommend you to trade a smaller lots.
Recommendation: Buy
Target Area: 1.2700
Stop Loss: 1.2400

EURUSD Signal 9512

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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