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  3. US Index Technical View- Sept 11, 2012
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US Index Technical View- Sept 11, 2012

By Fadi Steitie
By 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 tr...

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Currency: USD Index
Trend Expected Direction: Down
Method: Elliott Waves and Fibonacci Levels
Description: I am interested to see 9,944 at 0.382 Fib in USD Index before I post my trades for this week. However, As seen on chart, the USD is in a range bound channel which I considered the most risky. The trend might retest 9,944 as of last leg in wave 4 in a complex correction. I will stay aside and watch the market movement expecting 9,944 level to be hit today or tomorrow.
Recommendation: Watch 9,944 Level
Target Area: N/A
Stop Loss :N/A

US index 91112

By 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.

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