DislikedYou're absolutely correct. It gives an extra bit of confluence.
Many times before a major news announcement you'll see price wander to the 50 fib level and hang around there until the release of the news. I guess traders view it as a safe neutral zone to wait in.Ignored
I'll plot it on my charts in future and see how prices interaction with it.
Index charts available from these guys -
This broker is meant to be horrible for paying people out money etc lol, but their index charts are really useful nevertheless .
Market Watch - Show All - Then they are the xxxLFX (xxx = Currency Pair, LFX = The other Majors)
http://www.liteforex.org/demoaccount.php
Yeah you gotta love the correlations tbh, I use them as my "final confluence" before getting in a trade, they have helped against a lot of stupid mistakes which I would have made tbh hehe