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: CAD/CHF
Method: Elliott Waves
Description:Follow up on my yesterday post on CAD/CHF, A break in falling channel took place yesterday for new fresh wave expected to reach a new high levels. Yesterday the trend completed wave i and corrected ii at 0.618 Fibonacci at 0.93441. It looks attractive to me to buy and hold the pair targeting 1.618 Fibo expansion at 0.94200 price level.
Recommendation: Buy & Hold
Stop Loss: 0.9300
Target: 0.94200
