USD Index Signal - Nov. 11, 2012



Currency: USD Index
Method: Elliott Waves
Description: Looking at wave pattern for USD Index in upward Diagonal shape after a complex patterns since beginning of 2012, We can notice a barrier triangle within wave (b). The barrier triangle completed four minor waves in a squeeze shape which increase the risk of trading US cross currencies such as Euro, or Japanese yen. However, I do expect one more drop toward 9,950 at 0.764 Fibonacci level before the the greenback trend breaks the barrier at 9,980 toward 10,036. I do recommend traders to set aside and watch the expected breaks both ways or above expected level before trading US cross pairs. I will follow the breaks with potential trades post on Monday or Tuesday.
Recommendation: Watch breaks above 9,980
Stop Loss: N/A
Target: 10,036

USD Index - November 11, 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.

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