EUR/USD signal - October 6, 2011

Currency: EUR/USD
Signal: Buy
Strategy: Elliott Waves
Description: Buying at a dip (Speculative Sentiment Index was at -1.2302, suggesting that the EUR/USD could be trending upward) or B wave completed at 0.618 Fib level and traveling to C.
Target : 1.34185
Stop Loss: 1.31819

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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.