Minute operational scale (H4)
What will the main currency pairs present to us at the beginning of August - options for the development of the EUR/GBP & EUR/JPY & GBP/JPY movement in the H4 timeframe from July 30, 2020?
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Euro vs Great Britain pound
From July 30, 2020, the development of the movement of the main "EUR/GBP cross-instrument will be determined by the development and direction of the breakdown of the range:
- resistance level of 0.9075 - the UTL control line of the Minute operational scale fork;
- support level of 0.9055 - the upper border of the channel 1/2 Median Line of the Minuette operational scale fork.
A breakdown of the support level of 0.9055 will determine the development of the EUR/GBP movement in the 1/2 Median Line Minuette channel (0.9055 - 0.9030 - 0.9005) with the prospect of continuing it already in the equilibrium zone (0.9005 - 0.8960 - 0.8920) of the Minuette operational scale fork.
A breakdown of the UTL control line of the Minute operational scale fork - resistance level of 0.9075 - will make it possible to continue the development of the upward movement of this cross-tool to the goals:
- initial line SSL Minuette (0.9120);
- local maximum 0.9147 - 0.9174;
- warning line UWL61.8 Minute (0.9210).
The EUR/GBP movement options from July 30, 2020 are shown on the animated chart.
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Euro vs Japanese yen
The development of the movement of the EUR/JPY cross-instrument will continue from July 30, 2020, depending on the development and direction of the breakdown of the range:
- resistance level of 123.75 - the lower limit of the channel 1/2 Median Line of the Minuette operational scale fork;
- support level of 123.55 - upper border of the channel 1/2 Median Line of the Minute operational scale fork.
If the support level breaks 123.55, the development of the EUR/JPY movement will continue in the 1/2 Median Line channel (123.55 - 122.60 - 121.65) of the Minute operational scale fork, taking into account the working out of the boundaries of the equilibrium zone (123.05 - 122.60 - 122.20) of the Minuette operational scale fork.
In case of breaking the resistance level of 123.75, the movement of the cross-tool may be developed in the channel 1/2 Median Line (123.75 - 124.10 - 124.45) of the Minuette operational scale fork, and in the breakdown of the top border (124.45) of this channel, the upward movement of the EUR/JPY will be directed to the goals:
- warning line UWL38.2 Minute (124.80);
- control line UTL Minuette (125.55);
- warning line UWL61.8 Minute (126.05).
We look at the animated chart for the options for the movement of EUR/JPY from July 30, 2020.
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Great Britain pound vs Japanese yen
The development of the movement of the GBP/JPY cross instrument from July 30, 2020 will depend on the direction of the range breakout:
- resistance level of 136.60 - local maximum;
- support level of 136.15 - upper border of the channel 1/2 Median Line of the Minuette operational scale fork.
If the support level of 136.15 - the movement of GBP/JPY will arise in the channel 1/2 Median Line Minuette (136.15 - 135.90 - 135.65) with the prospect of reaching the boundaries of the equilibrium zone of the Minuette operational scale fork (134.80 - 134.40 - 134.00) and Minute (134.15 - 132.85 - 131.45).
When updating the local maximum - the resistance level of 136.60 - the option to continue the development of the upward movement of GBP/JPY to the control line UTL (137.00) of the Minuette operational scale fork and the borders of the channel 1/2 Median Line (138.00 - 139.10 - 140.30) of the Minute operational scale fork.
Details of the development of the GBP/JPY movement from July 30, 2020 are 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).
