Minuette (H4)
Here's a comprehensive analysis of the development options for the movement AUD / USD vs USD / CAD vs NZD / USD vs #USDX from October 18, 2019 on the Minuette operational scale (H4 time frame)
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US dollar Index
The movement of the #USDX from October 18, 2019 will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (98.15 - 97.75 - 97.35) of the Minuette operational scale. Look at the animated chart for details.
If the lower boundary of ISL61.8 is broken (support level of 98.05) the equilibrium zone of the Minuette operational scale fork, with the subsequent update of the local minimum 97.21, then the downward movement of the dollar index will be directed to the final line FSL Minuette (96.10).
In the event of breakdown of the upper boundary of ISL38.2 (resistance level of 98.15) of the equilibrium zone of the Minuette operational scale fork, it will be possible to continue the development of the upward movement #USDX to the equilibrium zone (98.50 - 98.85 - 99.15) of the Minuette operational scale fork.
The markup of #USDX movement options from October 18, 2019 is shown in the animated chart.
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Australian dollar vs US dollar
From October 18, 2019, the development of the movement of the Australian dollar AUD / USD will be determined depending on the development and the breakdown direction of the range :
- resistance level of 0.6840 (warning line UWL61.8 of the Minuette operational scale fork);
- support level of 0.6815 (warning line UWL38.2 of the Minuette operational scale fork).
The breakdown of the resistance level 0.6840 (UWL61.8 Minuette) - continuation of the upward movement of the Australian dollar to targets - warning line UWL100.0 (0.6875) of the Minuette operational scale fork - local maximum 0.6896 - equilibrium zone (0.6925 - 0.6975 - 0.7025) of the Minuette operational scale fork.
The breakdown of the support level 0.6815 (UWL38.2 Minuette) - an option for the development of the downward movement of AUD / USD whose goals will be - the control line UTL Minuette (0.6795) - the initial SSL line Minuette (0.6775) - the initial SSL line (0.6760) of the Minuette operational scale fork with the prospect of reaching the boundaries of the 1/2 Median Line channel (0.6730 - 0.6710 - 0.6690) and the equilibrium zone (0.6690 - 0.6665 - 0.6640) of the Minuette operational scale fork.
From October 18, 2019, we look at the layout of the AUD / USD movement options in the animated chart.
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New Zealand dollar vs US dollar
The development of the movement of the New Zealand dollar NZD / USD from October 18, 2019 will continue based on the development and direction of the breakdown of the range :
- resistance level of 0.6351 (local maximum);
- support level of 0.6340 (upper boundary of ISL61.8 of the Minuette operational scale fork).
Updating the local maximum and securing the New Zealand dollar above the resistance level of 0.6531 will make it possible to continue the development of the upward movement of this currency instrument to the goals - the final Schiff Line Minuette (0.6365) - the equilibrium zone (0.6390 - 0.6445 - 0.6500) of the Minuette operational scale fork.
However, if you return below ISL61.8 Minuette (support level of 0.6340), the development of the NZD / USD movement will continue within the boundaries of the equilibrium zone (0.6340 - 0.6325 - 0.6305) and the 1/2 Median Line channel (0.6320 - 0.6305 - 0.6290) of the Minuette operational scale fork with the prospect of achieving the initial SSL (0.6255) and control UTL (0.6245) lines of the Minuette operational scale fork and updating the local minimum 0.6238.
From October 18, 2019, we look at the markup of the NZD / USD movement options in the animated chart.
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US dollar vs Canadian dollar
The development of the movement of the Canadian dollar USD / CAD from October 18, 2019 will also be determined by the development and direction of the breakdown of the range :
- resistance level of 1.3155 (control line LTL of the Minuette operating scale fork);
- support level of 1.3140 (warning line LWL61.8 of the Minuette operational scale fork).
The breakdown of support level 1.3140 on the warning line LWL61.8 of the Minuette operational scale fork will make it possible to continue the development of the downward movement of USD / CAD to the warning line LWL100.0 Minuette (1.3100) and the boundaries of the equilibrium zone (1.3085 - 1.3035 - 1.2985) of the Minuette operational scale fork.
On the contrary, the return of the Canadian dollar above the LTL Minuette control line (resistance level of 1.3155) is an option for the development of upward movement to the boundaries of the 1/2 Median Line channel (1.3180 - 1.3210 - 1.3240) of the Minuette operational scale fork with the prospect of reaching the final Schiff Line (1.3300) and the boundaries of the equilibrium zone (1.3325 - 1.3355 - 1.3385) of the Minuette operational scale fork.
From October 18, 2019, we look at the layout of the USD / CAD movement options in the animated chart.
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The review is made without taking into account the news background. Thus, the opening of trading sessions of major financial centers does not serve as a guide to action (placing orders "sell" or "buy")
The formula for calculating the dollar index:
USDX = 50.14348112 * USDEUR0.576 * USDJPY0.136 * USDGBP0.119 * USDCAD0.091 * USDSEK0.042 * USDCHF0.036.
where the power coefficients correspond to the weights of the currencies in the basket:
Euro - 57.6%;
Yen - 13.6%;
Pound Sterling - 11.9%;
Canadian dollar - 9.1%;
Swedish Krona - 4.2%;
Swiss franc - 3.6%.
The first coefficient in the formula leads the index to 100 at the start date of the countdown - March 1973, when the main currencies began to be freely quoted relative to each other.
