Here's a comprehensive analysis of movement options at the Minuette operational scale fork - h4 - #USDX, EUR / USD, GBP / USD and USD / JPY from October 30, 2019
Minuette (H4 time frame)
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US dollar Index
From October 30, 2019, the development of the #USDX dollar index movement will be determined by developing the boundaries of the 1/2 Median Line (98.00 - 97.75 - 97.55) of the Minuette operational scale forks and equilibrium zones (97.75 - 97.45 - 97.15) of the Minuette operational scale forks. The markup of this movement is shown in the graph.
The breakdown of the support level of 97.15 (the local minimum is the lower boundary of the ISL61.8 equilibrium zone of the Minuette operational scale forks) will determine the further development of the downward movement of #USDX to the control line LTL (96.80) of the Minuette operational scale forks and the final line FSL Minuette (96.15).
On the contrary, the breakdown of the resistance level of 98.00 on the upper boundary of the 1/2 Median Line channel Minuette is an option to continue the development of the upward movement of the dollar index to the equilibrium zones (98.35 - 98.65 - 99.00) of the Minuette operational scale forks
The details of the movement #USDX presented in the chart.
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Euro vs US dollar
The single European currency in the equilibrium zone of the Minuette operational scale forks, respectively, the further development of the EUR / USD movement from October 30, 2019 will be determined by the development and direction of the breakdown of the borders (1.1160 - 1.1130 - 1.1090) of this zone. The markup of the development data can be seen in the chart.
The breakdown of the upper border of ISL61.8 (resistance level of 1.1160) of the equilibrium zone of the Minuette operational scale forks - continuation of the upward movement of EUR / USD to the targets - upper border of ISL61.8 (1.1185) equilibrium zones of the Minuette operational scale forks with the prospect of reaching the final line FSL Minuette (1.1280).
Successive breakdown of support levels :
- 1.1090 (lower boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks);
- 1.1080 (lower boundary of the ISL38.2 equilibrium zone of the forks of the Minuette operational scale forks);
will confirm the development of the downward movement of the single European currency to the final Schiff Line Minuette (1.1040) and the final line FSL Minuette (1.0985).
The details of the EUR / USD movement options are shown in the chart.
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Great Britain pound vs US dollar
The further development of Her Majesty's GBP / USD currency movement from October 30, 2019 will depend on the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.2895 - 1.2825 - 1.2755) of the Minuette operational scale forks. The movement details inside the 1/2 Median Line channel are presented in the chart.
The breakdown of the upper boundary of the 1/2 Median Line channel (resistance level 1.2895) of the Minuette operational scale forks - continuation of the development of the upward movement of GBP / USD to the targets - initial SSL line (1.2965) of the Minuette operational scale forks - control line UTL Minuette (1.3000) - start line SSL Minuette (1.3020) - control line UTL Minuette (1.3155) - warning line UWL38.2 Minuette (1.3205).
In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.2755), it will become possible for Her Majesty's currency to reach the borders of the equilibrium zone (1.2715 - 1.2620 - 1.2525) of the Minuette operational scale forks.
The details of the GBP / USD movement can be seen in the chart.
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US dollar vs Japanese yen
The currency of the "country of the rising sun" USD / JPY from October 30, 2019 will begin
to develop its movement depending on the development and direction of the breakdown range :
- resistance level of 109.15 (warning line UWL61.8 Minuette);
- support level of 108.75 (warning line UWL38.2 Minuette).
The breakdown of UWL38.2 Minuette (support level of 108.75) - the development of the downward movement of USD / JPY to the 1/2 Median Line channel (108.50 - 108.25 - 108.00) of the Minuette operational scale forks with the prospect of reaching the equilibrium zones (107.65 - 107.05 - 106.50) of the Minuette operational scale forks.
In case of joint breakdown of resistance levels :
- 109.15 (warning line UWL61.8 Minuette);
- 109.30 (control line UTL pitchfork operational scale Minuette);
the upward movement of the currency of the "land of the rising sun" can be continued to the goals - the final line of the FSL (109.50) of the Minuette operational scale forks - warning line UWL38.2 Minuette (110.45).
We look at the details of the USD / JPY movement in the 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.
