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  4. EUR/USD Signal - December 5, 2012
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EUR/USD Signal - December 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.

By: DailyForex.com

Currency: EUR/USD
Method: Elliott Waves
Description: Over Sold trade zone where trend is at 1.618 Fibonacci level where it could exceed it a bit above 1.31 market price with a divergence in RSI started from wave 2 of (v) where I suggest the trend will retest it. A completed motive wave started on 13 Nov and expected to reverse any moment within oversold shaded zone. However, I will focus my trading this week on EUR/USD and most Euro cross currencies.
Recommendation: Sell and Hold
Stop Loss: 1.3200
Target:1.29800

EURUSD Signal December 5, 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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