Here are the options for the development of the movement of EUR / USD vs GBP / USD h4 vs EUR / GBP h4 from July 3, 2019 - a comprehensive analysis of the instruments.
Minuette (H4)
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Euro vs US dollar
From July 03, 2019, the movement of the single European currency EUR / USD will be determined by the direction of the range breakdown :
-> resistance level of 1.1315 (lower boundary of the 1/2 Median Line channel of the Minuette operational scale fork);
-> support level of 1.1295 (the initial line of the SSL Minuette operational scale fork).
The breakdown of the level of support of 1.1295 (the starting line SSL Minuette operational scale fork) -> continuation of the downward movement of EUR / USD to the boundaries of the equilibrium zone (1.1280 <-> 1.1250 <-> 1.1220) of the Minuette operational scale fork with the prospect of reaching the boundaries of the 1/2 Median Line channel Minuette (1.1195 <-> 1.1180 <-> 1.1160).
On the other hand, in case of the breakdown of the level of resistance of 1.1315, the development of the movement of the single European currency will continue to the 1/2 Median Line channel Minuette (1.1315 <-> 1.1340 <-> 1.1365) with the prospect of achieving the objectives -> initial line of the SSL (1.1380) Minuette operational scale fork and equilibrium zone (1.1400 <-> 1.1430 <-> 1.1460) of the Minuette operating scale fork.
Details of the movement of EUR / USD are presented at the animated graphics.
Great Britain Pound vs US Dollar
The development of the movement of the currency of Her Majesty's GBP / USD from July 3, 2019 (with a fair probability) will continue in the 1/2 Median Line channel (1.2615 <-> 1.2560 <-> 1.2510) of the Minuette operating scale fork. More details of this movement are presented in the animated chart.
In case of the breakdown of the lower boundary (support level of 1.2510) of the 1/2 Median Line of the Minuette operational scale, the GBP / USD movement can be continued to the Median Line of the Minuette (1.2485) and the lower boundary of the ISL61.8 (1.2440) equilibrium zone of the Minuette operational fork.
Meanwhile, considering that the GBP / USD returns above the upper boundary (resistance level of 1.2615) of the 1/2 Median Line channel Minuette, the movement development of this currency instrument will be directed to the boundaries of the 1/2 Median Line channel Minuette (1.2635 <-> 1.2665 <-> 1.2700) and the equilibrium zone (1.2700 <-> 1.2760 <-> 1.2825) of the Minuette operating scale fork.
The details of the GBP / USD movement are presented in the animated graphic.
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Euro vs Great Britain Pound
As in the case of EUR / USD, the development of the movement of the "main" cross-instrument EUR / GBP from July 3, 2019 will be determined by the direction of the range breakdown :
-> resistance level of 0.8970 (the initial SSL line of the Minuette operating scale fork);
-> support level of 0.8955 (upper limit of the 1/2 Median Line channel Minuette).
The upward movement of EUR / GBP can be continued in case of breakdown of the initial SSL line (resistance level of 0.8970) of the Minuette operating scale fork, and the targets of this movement will be -> SSL start line (0.8995) of the Minuette operational scale fork <-> control line UTL Minuette (0.9009).
On the other hand, in the case of the breakdown of the level of support of 0.8955, the movement of cross-instrument will result in a channel of the a Median Line Minuette again (0.8955 <-> 0.8943 <-> 0.8930), and perhaps it will be the place to be broken by the lower boundary (0.8930) of this channel, while the downward movement of EUR / GBP will be directed to the boundaries of the 1/2 Median Line channel Minuette (0.8905 <-> 0.8880 <-> 0.8860) and the equilibrium zone (0.8900 <-> 0.8880 <-> 0.8850) of the Minuette operational scale fork.
The details of the EUR / GBP movement are presented in the animated graphic.
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The review was compiled without taking into account of the news background. The opening of trading sessions of the main financial centers does not serve as a guide to action (placing orders "sell" or "buy").
The material has been provided by InstaForex Company - www.instaforex.com