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: Either a dropping diagonal or a second Zigzag is in progress after a larger Zigzag completed %100 at 1.3700. I would suggest this morning gamble trade EUR/USD for the second correction X trade which it might hit 0.500 Fibonacci at 1.3300 before it drops further. I will buy and hold the pair for a short quick daily trade.
Recommendation: Buy and Hold
Stop Loss: 1.31500
Target:1.3300
