EUR/USD Signal- May 8, 2012


By: Fadi Steitie

Currency: EUR/USD
Trend Expected Direction:N/A
Method: Elliott Waves and Fibonacci Levels
Strategy: High Probability Trading
Description: With extreme drop in Euro/Green Buck that exceeded %100 of regular ABC Zigzag which it called Through under after it broke the falling trend channel @1.30400 on Monday morning and 1.30120 level which cased what called a Through under ended at 1.29550. A bounce is usually expected in these cases confirmed by trend getting inside the falling channel again as shown on chart! I expect this corrective bounce to stay in strength as a minor abc testing the falling upper trend line at 1.3100.
Target Area: 1.31100
Stop Loss: 1.29800


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.