EUR/USD Signal - Feb. 27, 2013

Fadi Steitie

| on February 27, 2013 | Updated on December 13, 2020

Currency: EUR/USD
Method: Elliott Waves
Description: Follow up on our last EUR/USD success gamble trade on Feb. 25 with hit target at 1.3300, a sharp drop took place after what it assumed X wave reaching a low of 1.30191. I will consider the pattern as the second ZigZag correction with ongoing correction which expected to touch the 1.31400 level today before it drops further toward the 1.2900 price level which is equal to wave (ii) of (v) (Not Shown on chart) to complete a larger triple ZigZags. I would suggest all traders to keep their eyes on 1.31400 or near that level to short the pair for expected +240 profitable pips. Good luck ;)
Recommendation: Sell @ or near 1.31400 price level
Stop Loss: 1.3300 or a bit above that level when needed
Target: 1.2900

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.