AUD/USD Signal - April 19, 2012


By: Fadi Steitie

Currency: AUD/USD
Trend Expected Direction: Up
Method: Elliott Waves ,Fibonacci, High Probability Trading
Description: After the break in the falling Zigzag that breaks on 11 April at price 1.03144 going up to 1.0450 and back down testing 1.03130 at .0618 Fib level and since that trend formed a descending triangle as shown on chart. A range bound level will remain until a breakout comes sometime next week targeting 1.04300 level before the major trend change direction. I suggest you to hold your long position.
Recommendation:Hold Long
Target Area: 1.04300
Stop Loss: 1.02250

AUD/USD Signal - April 19, 2012

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals based on his keen understanding of the market. Fadi is an expert in Elliott wav principles and Ichimoku Kinko Hyo, and he is a managing partner in one of the leading organizations in protective coating in the Gulf region.

In addition to sharing his trades as a member of the DailyForex trading team, Fadi is an expert trader on eToro, a social platform that allows traders to copy experts quickly and easily. Copy Fadi's trades on eToro here.