Here's a comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) on the Minuette operational scale from December 17
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US dollar index
The dollar index in the 1/2 Median Line channel (97.15 - 96.95 - 96.70) of the Minuette operational scale forks, respectively, the development of the #USDX movement from December 17, 2019 will be determined by the development and direction of the breakdown of the above levels. We look at the details of the movement options in the animated chart.
The breakdown of the lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks (support level of 96.70) is an option to continue the downward movement of the dollar index to the initial - SSL (96.59) and control - LTL (96.45) for the lines of the Minuette operational scale forks (97.25), and when breakdown thereof, this movement can be continued to the warning - LWL100.0 (96.10) and control - LTL (96.00) lines of the Minuette operational scale forks.
On the contrary, the breakdown of the resistance level of 97.15 at the upper boundary of 1/2 Median Line Minuette will confirm the further development of #USDX to the boundaries of the equilibrium zone (97.30 - 97.50 - 97.70 ) 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 17, 2019 will be determined by the development and direction of the breakdown of the boundaries of 1/2 Median Line channel (1.1116 - 1.1140 - 1.1155) of the Minuette operational scale forks. The details are shown in the animated chart.
The breakdown of the upper boundary of 1/2 Median Line Minuette (resistance level of 1.1155) will make it relevant to continue the upward movement of EUR / USD to the targets:
- the upper boundary of the 1/2 Median Line Minuette channel (1.1175);
- SSL start line (1.1200) of the Minuette operational scale forks;
- the lower boundary of ISL38.2 (1.1220) equilibrium zone of the Minuette operational scale forks.
Serial breakdown of support levels :
- 1.1116 - lower boundary of the 1/2 Median Line Minuette channel;
- 1.1110 - lower boundary of the 1/2 Median Line Minuette channel;
will confirm the further development of the movement of the single European currency in the equilibrium zone (1.1116 - 1.1088 - 1.1060) of the Minuette operational scale forks with a view of reaching the control line LTL (1.1010) 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 17, 2019 will depend on the development and the breakdown direction of the range :
- resistance level of 1.3430 (lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks);
- support level of 1.3370 (upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks).
The breakdown of the resistance level of 1.3430 - the development of Her Majesty's currency movement will begin to occur again within the boundaries of the 1/2 Median Line channel (1.3430 - 1.3515 - 1.3605) of the Minuette operational scale forks.
On the other hand, in case of breakdown of ISL38.2 Minuette (support level of 1.3370), the GBP / USD movement will continue in the equilibrium zone (1.3370 - 1.3315 - 1.3265) of the Minuette operational scale forks with the prospect of reaching the goals: warning line UWL38.2 Minuette (1.3220) - final Shiff Line Minuette (1.3200) - the final line of the FSL Minuette (1.3100).
The details of the GBP / USD movement can be seen on the animated chart.
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US dollar vs Japanese yen
The movement of the currency of the "country of the rising sun" USD / JPY from December 17, 2019 will also be due to the development and direction of the breakdown of the range :
- resistance level of 109.60 start line SSL of the Minuette operational scale forks;
- support level of 109.40 upper boundary of the 1/2 Median Line Minuette channel.
In case of breakdown of the support level of 109.40, the USD / JPY movement will continue in the 1/2 Median Line Minuette channel (109.40 - 109.23 - 109.09), and if there is a breakdown of the lower boundary (109.09) of this channel , then the downward movement of this currency instrument can continue to the boundaries of the equilibrium zoneof the Minuette operational scale forks (108.75 - 108.44 - 108.18) and Minuette (108.44 - 108.25 - 108.00).
In case of breakdown of the SSL start line (resistance level of 109.60) of the Minuette operational scale forks, the objectives of the currency movement of the "land of the rising sun" will be:
- local maximums (109.71 - 109.74);
- control line UTL (109.90) of the Minuette operational scale forks;
- warning line UWL100.0 Minuette (110.25).
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The review was compiled 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 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.
