EUR/USD Signal - Dec. 26, 2012

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By: DailyForex.com

Currency: EUR/USD
Method: Elliott Waves
Description: Technically speaking about EUR/USD pair, the trend has tested 0.382 Fibonacci level and broke falling channel which could indicate a final wave v is in progress. The previous wave ii was a complex one where correction b in expanded flat ended above wave i which argue why wave iv wouldn't be a simple correction as alternation of wave one once it hits 1.31590. However, I would buy this pair targeting theoretically 1.35350 but would keep it open until the trend pass 1.3300 level where I can add more lots to this trading opportunity. Stay tuned for further updates.
Recommendation: Buy & Hold
Stop Loss: 1.3100
Target:Open

EURUSD Signal December 26, 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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