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: Fadi Steitie
Currency: EUR/USD
Signal: Sell (Short)
Strategy: Elliott Waves
Description: Ending of correction wave (iv) at resistance level 1.37413
or 0.382 Fib level at channel resistance line heading downward targeting
final wave (v). Good luck to all traders
Target (1): 1.33970
Target (2): 1.33150
Stop Loss: 1.38250