EURUSD Cup and Handle,Correlation USDJPY
Hi again, hit that like/follow button to motivate me.
As we can see EURUSD is in a retracement phase(handle) confirmed downtrend.
Testing support and resistance. Respecting Fibonacci golden retracement levels at 50/61%.
By using confluence and pair correlation strategies, please refer to my linked USDJPY Idea to understand fully the resemblance here.
This is why it is important to compare and contrast pairs. In this case EURUSD and USDJPY will move similarly while USDCHF is expected to contrast them.
As we can see EURUSD is in a retracement phase(handle) confirmed downtrend.
Testing support and resistance. Respecting Fibonacci golden retracement levels at 50/61%.
By using confluence and pair correlation strategies, please refer to my linked USDJPY Idea to understand fully the resemblance here.
This is why it is important to compare and contrast pairs. In this case EURUSD and USDJPY will move similarly while USDCHF is expected to contrast them.
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