EUR/USD Signal- January 2, 2013



Currency: EUR/USD
Method: Elliott Waves
Description: As per wave counts, the trend is within a a double/triple correction, or triangle. It is testing 0.382 Fibonacci level at 1.31630. I can see two scenarios at this stage where the trend might break the Resistance level and travel upward to complete final wave five, or might for the final round to test the support level at 1.31630 before it proceed upward. However, I would suggest traders who are long to hold their position for further strength and traders who were watching the pair to wait for the best entry level near support (1.31630) or above support 1.3300.
Recommendation: Buy and Hold
Stop Loss: 1.31000
Target: Open

EURUSD Signal 1213

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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