Waking in a dream and in reality - what will happen next to the development of the movement of currency instruments in #USDX, EUR / USD, GBP / USD and USD / JPY (H4) from October 15, 2019? - A comprehensive analysis of movement options.
Minuette (H4 time frame)
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US dollar Index
The movement of #USDX from October 15, 2019 will continue to be determined by the development and the direction of the breakdown of the boundaries of the equilibrium zone (98.45 - 98.65 - 98.85) of the Minuette operational scale fork. The details are shown in the animated chart.
The breakdown of the upper boundary of ISL38.2 (resistance level 98.85) of the Minuette operational scale fork will determine the development of the movement of the dollar index in the 1/2 channel Median Line (98.85 - 99.00 - 99.20) of the Minuette operational scale fork with the prospect of reaching the 1/2 Median Line Minuette channel (99.35 - 99.52 - 99.67).
On the contrary, if the lower boundary of ISL61.8 (support level 98.45) is broken down, the equilibrium zone of the Minuette operational scale fork is the option of continuing the downward movement #USDX to the equilibrium zone (98.30 - 98.00 - 97.65) of the Minuette operational scale.
The details of the movement of #USDX are presented in the animated chart.
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Euro vs US dollar
The single European currency will continue to develop movement within the 1/2 Median Line channel (1.1075 - 1.1035 - 1.0990) of the Minuette operational scale fork. The breakdown direction of which will determine the further development of the EUR / USD movement from October 15, 2019. The markup of movement inside the 1/2 Median Line channel are shown in the animated chart.
The breakdown of the lower boundary of the 1/2 Median Line channel (support level 1.0990) of the Minuette operational scale fork - the development of the downward movement of the single European currency can be continued towards the goals - to the boundaries of the 1/2 Median Line channel (1.0980 - 1.0955 - 1.0930)of the Minuette operational scale fork with the prospect of reaching a minimum of 1.0879.
On the contrary, the breakdown of the upper boundary of the 1/2 Median Line channel (resistance level 1.1075) of the Minuette operational scale fork will make it relevant to continue the development of the upward movement of EUR / USD to the targets - the upper boundary of the ISL61.8 (1.1110 - local maximum) equilibrium zone of the Minuette operational scale fork - the lower boundary of the ISL38.2 (1.1175) equilibrium zone of the Minuette operational scale fork.
The movement details of EUR / USD are shown in the animated chart.
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Great Britain Pound vs US Dollar
The movement of Her Majesty's GBP / USD currency from October 15, 2019 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (1.2550 - 1.2620 - 1.2705) of the Minuette operational scale fork. Look at the animated chart for details. .
The breakdown of the lower boundary ISL38.2 (support level 1.2550) of the equilibrium zone of the Minuette operational scale fork - further development of the GBP / USD movement will begin to occur in the 1/2 Median Line Minuette channel (1.2550 - 1.2490 - 1.2430), and with a combined breakdown the lower boundary (1.2430) of this channel and the lower boundary of the ISL38.2 (1.2400) equilibrium zone of the Minuette operational scale fork - the downward movement of this currency instrument will be directed to the targets - the initial line SSL Minuette (1.2310) - the control line LTL Minuette (1.2245) with the prospect of reaching the 1/2 Median Line Minuette channel (1.2330 - 1.2140 - 1.2060).
On the contrary, the breakdown of the upper boundary of ISL61.8 (resistance level 1.2750) of the equilibrium zone of the Minuette operational scale fork, followed by breakdown of the final Schiff Line Minuette (1.2745) determine the option of continuing the upward movement of Her Majesty's currency to the final line of the FSL Minuette (1.2985).
The details of the GBP / USD movement can be seen in the animated chart.
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US dollar vs Japanese yen
As in the previous case, the movement of the USD / JPY currency of the country of the rising sun from October 15, 2019 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (108.00 - 108.25 - 108.50) of the Minuette operational scale. The details are shown in the animated chart.
The breakdown of the upper boundary of ISL61.8 (resistance level 108.50) of the equilibrium zone of the Minuette operational scale fork with the subsequent update of the local maximum (108.64) - continuation of the development of the upward movement USD / JPY to the final line of the FSL Minuette (109.40) and FSL Minuette (109.50) operational scale fork.
On the contrary, the breakdown of the support level of 108.00 on the lower boundary of the equilibrium zone of the Minuette operational scale fork - the downward movement of the currency of the country of the rising sun can continue to the final Schiff Line Minuette (107.80) and the boundaries of the equilibrium zone (107.60 - 107.05 - 106.45) of the Minuette operating scale.
We look at the details of the USD / JPY movement in 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 the power coefficients 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.
The material has been provided by InstaForex Company - www.instaforex.com