EUR/USD Signal- November 27, 2012

Fadi Steitie

By: DailyForex.com

Currency: EUR/USD
Method: Elliott Waves
Description:Following the principle of motive waves, I was able to spot wave (iii) at nearly 2.618 Fibonacci level / 1.3000 price point. Logical trader would say what would happen to Y If X factor became known. With this logical approach, I would keep the pair in my watch list to see if a ZigZag shaped up as wave (iv) in a simple form and completed just near 1.2900 price level to say Yes I know now what is X. So lets watch level 1.2900 as a best buy in this situation for maximum profits and minimum risk because we would tell where Y ends!! Stay tuned for further details later on today.
Recommendation: Keep it in watch list for today and keep your eye on 1.2900 level.
Stop Loss: N/A
Target: N/A

EURUSD Signal 112712

About the Author
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.

Currency Pairs:
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