US Index Technical Update

US Index Technical Update - March 15

Fadi Steitie

| on March 15, 2012 | Updated on March 15, 2012

By: Fadi Steitie

Currency: US Index
Trend Expected Direction: N/A
Method: Japanese Candle Sticks
Description: US Index hits 2.618 Fibonacci Level with a divergence in RSI. A falling red Candle followed by a Grave Stone Candle and a Doji which make the trend weaker for a fall. I expect the trend to go down and in a correlation to other currencies, USD/JPY, USD/CAD will be in a bearish positions, and EUR/USD will be in a Bullish Position. Good Luck on your trade!!
Recommendation: Sell and Hold
Target Area: N/A
Stop Loss: N/A

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.