Here's a comprehensive analysis of movement options for #USDX, EUR / USD, GBP / USD and USD / JPY (H4) Minuette operational scale on December 12, 2019.
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US dollar index
From December 12, 2019, the development of the movement of the dollar index #USDX will depend on the development and direction of the breakdown of the range :
- resistance level of 97.55 start line SSL of the Minuette operational scale forks;
- support level of 97.35 lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks.
The breakdown of the lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks (support level of 97.35) is an option to continue the downward movement of the dollar index to the LTL Minuette control line (97.25), and in case of breakdown, this movement can be continued to the warning lines - LWL38.2 Minuette (97.10) - LWL61.8 Minuette (96.75).
On the contrary, the breakdown of the initial SSL Minuette line (resistance level of 97.45) - will lead to the development of the #USDX movement in an ascending form to resistance levels :
- 97.58 - 1/2 Median Line Minuette;
-97.68 - SSL Minuette start line;
- 97.83 - the upper boundary of the channel 1/2 Median Line Minuette;
In case of breakdown of which, it becomes possible for the dollar index to reach the boundaries of the equilibrium zone (97.97 - 98.12 - 98.27) of the Minuette operational scale forks.
The details of the #USDX movement are presented on the animated chart.
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Euro vs US dollar
The movement of the single European currency EUR / USD from December 12, 2019 will also be due to the development and direction of the breakdown of the range :
- resistance level of 1.1105 lower boundary of the 1/2 Median Line channel Minuette;
- support level of 1.1085 start line SSL of the Minuette operational scale forks.
The breakdown of the resistance level of 1.1105 will determine the development of the EUR / USD movement in the 1/2 Median Line Minuette channel (1.1105 - 1.1135 - 1.1120 ) with the prospect of reaching the lower boundary of the ISL38.2 (1.1200) equilibrium zone of the Minuette operational scale forks.
Consecutive breakdown of support levels :
- 1.1085 - the initial line of SSL Minuette;
- 1.1078 - the upper boundary of the 1/2 Median Line channel Minuette;
will confirm that the further development of the movement of the single European currency will begin to flow in the 1/2 Median Line channel Minuette (1.1078 - 1.1065 - 1.1050) with the prospect of reaching the starting line SSL Minuette (1.1043) and the upper boundary of ISL38.2 (1.1020) of the equilibrium zone of the Minuette operational scale forks.
The details of the EUR / USD movement options are shown on the animated chart.
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Great Britain pound vs US dollar
The development of Her Majesty's GBP / USD currency movement from December 12, 2019 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (1.3145 - 1.3170 - 1.3200) of the Minuette operational scale forks. We look at the animated chart for marking the development of the indicated levels.
The breakdown of the resistance level 1.3200 at the upper boundary of ISL61.8 of the equilibrium zone of the Minuette operational scale forks with the subsequent update of the local maximum 1.3215 - lead to the continuation of the development of the upward movement Her Majesty's currency to the goals: the final line FSL Minuette (1.3290) - warning line UWL61.8 (1.3310) of the Minuette operational scale forks- c 1/2 Median Line Minuette channel (1.3390 - 1.1.3470 - 1.3555).
Alternatively, in the case of breakdown of the lower boundary ISL38.2 (support level of 1.3145), equilibrium zone of the Minuette operational scale forks - lead to the continuation of the movement GBP / USD to goals: the ultimate Line Schiff Minuette (1.3085) - the initial SSL line (1.3060) of the Minuette operational scale forks - 1/2 Median Line Minuette channel (1.3020 - 1.2995 - 1.2970) - LTL Minuette control line (1.2900)
The details of the GBP / USD movement can be seen on the animated chart.
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US dollar vs Japanese yen
Similarly to other currencies, the movement of the currency of the "country of the rising sun" USD / JPY from December 12, 2019 will be due to the development and direction of the breakdown of the range :
- resistance level of 108.70 lower boundary ISL61.8 equilibrium zone of the Minuette operational scale forks;
- support level of 108.53 lower boundary of the 1/2 Median Line Minuette channel.
It will become possible for the currency of the "country of the rising sun" to reach the boundaries of the equilibrium zone (108.23 - 107.78 - 107.33) of the Minuette operational scale forks, with the breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 108.53) and updating the local minimum 108.29.
On the contrary, the breakdown ISL61.8 Minuette (resistance level of 108.70) - lead to the development of the USD / JPY movement in the equilibrium zone (108.70 - 108.90 - 109.07) of the Minuette operational scale forks with the prospect of reaching the final Schiff Line Minuette (109.35) and the SSL start line (109.65) of the Minuette operational scale forks.
We look at the details of the USD / JPY movement on 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 the main 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 power factors 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.
