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  4. EUR/USD Signal - Dec. 26, 2012
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EUR/USD Signal - Dec. 26, 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.

By: DailyForex.com

Currency: EUR/USD
Method: Elliott Waves
Description: Technically speaking about EUR/USD pair, the trend has tested 0.382 Fibonacci level and broke falling channel which could indicate a final wave v is in progress. The previous wave ii was a complex one where correction b in expanded flat ended above wave i which argue why wave iv wouldn't be a simple correction as alternation of wave one once it hits 1.31590. However, I would buy this pair targeting theoretically 1.35350 but would keep it open until the trend pass 1.3300 level where I can add more lots to this trading opportunity. Stay tuned for further updates.
Recommendation: Buy & Hold
Stop Loss: 1.3100
Target:Open

EURUSD Signal December 26, 2012

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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