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
Method: Elliott Waves
Description: Looking to buy wave five after wave four confirmed correction at 1.28850. I expect wave v to end at 1.618 Fibonacci level at 1.30650 price point as a final move before a larger drop follow the complete motive move that started on 13 November at 1.26600 and expected to reach its highest at 1.30800 technically. Lets buy and watch this critical move toward its target.
Recommendation: Buy and Hold
Stop Loss: 1.28500
Target: 1.30650
