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  4. USD/CAD Signal - Feb. 25, 2013
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USD/CAD Signal - Feb. 25, 2013

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.

Currency: USD/CAD
Method: Elliott Waves
Description: Technical analysis, Elliott waves, and Fibonacci golden ratios suggest that a complex correction should take place at this level 1.02265 and to drop near 1.0170 to form the 4th wave at 0.382 Fibonacci level. That would be a golden buy level in order to complete one of the motive cycles which is labeled as of long wave (iii). I would set aside and watch trend to hit 1.0170 before I buy the pair. Good Luck traders
Stop Loss: 1.0100
Target: 1.0300 when buy near 1.0170

USDCAD Signal

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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