EURUSD & DXY: A BEAUTIFUL INVERSE RELATIONSHIP / FIAT / FIB
DESCRIPTION: In the chart above I have included a MACRO analysis & side by side comparison of EURUSD & DXY.
POINTS:
1. DEVIATION of 0.075, found with HIGHEST HIGH & LOWEST LOW & then dividing by 2 to find a MEDIAN & so on for remaining points in between.
2. EURUSD price action is in a current downtrend getting ready to test 1ST TARGET.
3. NOTICE how TARGETS for DXY & EUROUSD coincide.
4. RSI is currently over extended for EUROUSD & has seen its squeeze from previous oversold levels.
*IMPORTANT: When both price actions come to touch they either float in same channel before separating again or completely blow through one another.
SCENARIO: With DXY's current bearish momentum this can be a bullish factor for EURUSD as they have a clear inverse behavior and vice versa.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
EURUSD
DXY
POINTS:
1. DEVIATION of 0.075, found with HIGHEST HIGH & LOWEST LOW & then dividing by 2 to find a MEDIAN & so on for remaining points in between.
2. EURUSD price action is in a current downtrend getting ready to test 1ST TARGET.
3. NOTICE how TARGETS for DXY & EUROUSD coincide.
4. RSI is currently over extended for EUROUSD & has seen its squeeze from previous oversold levels.
*IMPORTANT: When both price actions come to touch they either float in same channel before separating again or completely blow through one another.
SCENARIO: With DXY's current bearish momentum this can be a bullish factor for EURUSD as they have a clear inverse behavior and vice versa.
FULL CHART LINK: www.tradingview.com/chart/UUCv2fGk/
EURUSD
DXY
