Minuette operational scale (H4)
The main cross-tools against the dollar index - what's next? Options for the development of the movement for #USDX vs EUR/GBP, GBP/JPY, and EUR/JPY (H4) on April 24, 2020.
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US dollar index
From April 24, 2020, the development of the movement of the dollar index #USDX will be determined by working out and the direction of the breakdown of the channel boundaries 1/2 Median Line (100.05-100.35-100.65) of the Minuette operational scale forks - we look at the animation chart for the movement options inside this channel.
Breakdown of the lower boundary of the channel 1/2 Median Line of the Minuette operational scale forks - support level of 100.05 - the continuation of the downward movement of the dollar index to the targets:
- final Shiff Line Minuette (99.55);
- control line LTL Minuette (99.20);
- local minimum (98.82 - 98.27).
In the case of a breakdown of the resistance level of 100.65 at the upper border of the channel 1/2 Median Line Minuette, the upward movement of #USDX can be continued to the equilibrium zone (101.40-101.85-102.25) of the Minuette operational scale forks.
The layout of the #USDX movement options from April 17, 2020 is shown on the animated chart.
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Euro vs Great Britain pound
From April 24, 2020, the movement of the "main" EUR/GBP cross-instrument will be determined by the development and direction of the breakout of the range:
- resistance level of 0.8785 on the initial line of the SSL of the Minuette operational scale forks;
- support level of 0.8730 on the LTL Minuette control line.
Breakdown of the initial line of SSL of the Minuette operational scale forks - resistance level of 0.8785 - with a subsequent update of the local maximum of 0.8862 - the option of developing an upward movement of EUR/GBP to the equilibrium zone (0.9080-0.9210-0.9335) of the Minuette operational scale forks.
The breakdown of the control line LTL of the Minuette operational scale forks - the support level of 0.8730 - and then updating the local minimum of 0.8681 - will make it possible to continue the development of the EUR/GBP downward movement to the warning line LWL38.2 (0.8490) of the Minuette operational scale fork.
The EUR/GBP movement options from April 24, 2020, depending on the processing of the 1/2ML Minute channel, are shown on the animated chart.
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Great Britain pound vs Japanese yen
The development of the movement of the GBP/JPY cross-instrument from April 24, 2020 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (132.25-132.75-133.25) of the Minuette operational scale forks - we look at the motion marking inside this equilibrium zone on the animated chart.
Breakdown of the upper border of ISL38.2 of the balance zone of the Minuette operational scale forks - resistance level of 133.25 - development option of the upward movement GBP/JPY to the targets:
- upper bound of ISL38.2 (133.25) equilibrium zone of the Minuette operational scale fork;
- 1/2 Median Line Minuette (134.95);
- channel 1/2 Median Line Minuette (135.45-135.75-136.15).
A breakout of the lower border ISL61.8 of the Minuette operational scale fork - support level of 132.25 - followed by updating the local minimum 131.82 - will make the continuation of the development of the downward movement GBP/JPY to the final line FSL Minuette (130.75) relevant.
From April 24, 2020, we look at the GBP/JPY movement options on the animated chart.
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Euro vs Japanese yen
The development and direction of the breakdown of the boundaries of the equilibrium zone (115.15-116.00-115.65) of the Minuette operational scale forks will begin to determine the development of the movement of the EUR/JPY cross-instrument from April 24, 2020 - the details of the movement inside this zone are presented on the animated chart.
Breakdown of the upper border of ISL38.2 of the balance zone of the Minuette operational scale forks - resistance level of 116.65 - a continuation of the movement of EUR/JPY to the borders of the channel 1/2 Median Line Minuette (117.00-117.65-118.25) and equilibrium zones (117.65-118.25-118.90) of the Minuette operational scale forks.
With the joint breakdown of the lower boundary of the ISL61.8 equilibrium zone of the Minuette operational scale forks - support level of 115.15 - and the final Shiff Line Minuette (114.90), it will be possible to continue the downward movement of EUR/JPY to the final FSL Minuette line (112.50).
The markup of the EUR/JPY movement options from April 24, 2020 is shown on the animated chart.
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The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers, and is not a guide to action (placing "sell" or "buy" orders).
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 currencies in the basket:
Euro - 57.6 %;
Yen - 13.6 %;
Pound - 11.9 %;
Canadian dollar - 9.1 %;
Swedish Krona - 4.2 %;
Swiss franc - 3.6 %.
The first coefficient in the formula brings the index value to 100 on the starting date - March 1973, when the main currencies began to be freely quoted relative to each other.
