EUR/USD Signal - March 14, 2013

Fadi Steitie

| on March 14, 2013 | Updated on March 14, 2013

By: DailyForex.com

Currency: EUR/USD
Method: Elliott Waves
Description: Looking at the break of ascending triangle of wave 4 in abcd& e @ 0.681 golden Fibonacci, wave (1) of 5 has started at 1.30658 and expected to end at 1.30321 at 78.6% from wave (1) in expanding flat for wave (2). I expect a longer drop for the longer of wave (3) targeting the next expected ZigZag correction. I will sent my Stop Loss at 1.30650 with open target for now targeting a further drop.
Recommendation: Sell and Hold
Stop Loss:1.30650
Target:Open

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.