I know it is hard to understand this if you do not study the "The New Science. Technical Analysis" (1994) of T. DeMark and "Methods of Wall Street Master "(1991) of V. Sperandeo on trends and trendlines . But price is projected to drop to 2000 lows with retest of the last minor demand line which we are about to break (with its consequent retest that is likely to follow). It is sad that most of modern traders still live before 1990s, engaging in shamanism, art and intuition (and worst, imposing their subjective art on others) when there are proven scientific methods of price prediction. I am not the best new science analyst but that is what I identified and is pretty obvious.
Top Absolute Correlation
1 EURUSD - USDX -96.8%
2 EURUSD - USDPLN -95.8%
3 EURUSD - USDCZK -92.7%
4 EURUSD - EURSGD 88.9%
5 EURUSD - EURCHF 86.7%
6 EURUSD - USDSGD -81.6%
7 EURUSD - USDHUF -79.9%
8 EURUSD - EURJPY 78.7%
9 EURUSD - EURCAD 74.7%
10 EURUSD - HK50 70.5%
Top Absolute Correlation
1 EURUSD - USDX -96.8%
2 EURUSD - USDPLN -95.8%
3 EURUSD - USDCZK -92.7%
4 EURUSD - EURSGD 88.9%
5 EURUSD - EURCHF 86.7%
6 EURUSD - USDSGD -81.6%
7 EURUSD - USDHUF -79.9%
8 EURUSD - EURJPY 78.7%
9 EURUSD - EURCAD 74.7%
10 EURUSD - HK50 70.5%
Comment:
BTCUSD also correlates with EURUSD and usually drops faster than euro and we did identify bearish BTCUSD, LTCUSD, XRPUSD market in our previous post, though on minor timeframes.
Comment:
So what happened that July 2019 candle broke the trend? "The Governing Council expects the key ECB interest rates to remain at their present or lower levels at least through the first half of 2020" www.ecb.europa.eu/pr...5~52d3766c9e.en.html
Comment:
How to identify right trendline TD points, see www.youtube.com/watch?v=1FA93wpD...