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...
DESCRIPTION: In the chart above I have made my best attempt in attempting to provide a MACRO VISUAL AID for the current state of the EUROPEAN MARKET.
POINTS:
1. DEVIATION was estimated using highest point of 5500 POINTS & LOWEST POINT OF 2000. POINTS were summed and divided by 2 giving an average and same was done for all other SUPPORTS (WHITE LINES).
2....
1st target is the vwap and the same time 38.2% Fibonacci level.
If the VWAP is broken, the 2nd target is the 61.8% (this is in case the market doesn't bump into the VWAP)
Focus on The volumes to confirm it (don't forget that trading is only about probabilities)
