Minuette operational scale (H4)
Let's consider what will happen to the "raw" currency instruments on November 29, 2019 - Here's a comprehensive analysis of the development options for the movement #USDX vs AUD/USD vs USD/CAD vs NZD/USD.
____________________
US dollar Index
From November 29, 2019, the dollar Index #USDX will continue to develop the movement depending on the direction of the breakdown range:
- resistance level of 98.40 on the starting line SSL of the Minuette operational scale fork;
- support level of 98.30 on the reaction line RL23.6 of the Minuette operational scale fork.
With a joint breakdown of the initial - SSL (resistance level of 98.40) and control - UTL (resistance level of 98.45) lines of the Minuette operational scale fork, the upward movement of #USDX can be continued to the boundaries of the equilibrium zone (98.65 - 99.02 - 99.40) of the Minuette operational scale fork.
On the contrary, in case of breakdown of the RL23.6 Minuette reaction line (support level of 98.30), the downward movement of the dollar index can continue to the boundaries of the 1/2 Median Line channel (98.00 - 97.75 - 97.50) of the Minuette operational scale fork and the equilibrium zone (97.90 - 97.75 - 97.60) of the Minuette operational scale fork.
The markup of #USDX movement options from November 29, 2019 is shown on the animated chart.
____________________
Australian dollar vs US dollar
The development of the movement of the Australian dollar AUD / USD from November 29, 2019 will also be determined by the direction of the breakdown of the range :
- resistance level of 0.6787 (control line UTL of the Minuette operational scale fork);
- support level of 0.6763 (start line SSL of the Minuette operational scale fork).
The breakdown of the SSL Minuette initial line (support level of 0.6763) is an option to continue the development of the downward movement of the Australian dollar to the boundaries of the 1/2 Median Line Minuette channel (0.6753 - 0.6743 - 0.6733) with the prospect of reaching the equilibrium zone (0.6720 - 0.6707 - 0.6693) of the Minuette operational scale.
Alternatively, the breakdown of the UTL control line (resistance level of 0.6787) of the Minuette operational scale fork will direct AUD / USD movement to the boundaries of the 1/2 Median Line channel (0.6805 - 0.6832 - 0.6862) of the Minute operational scale fork.
The marking options for movement AUD / USD from November 29, 2019 are presented in the animated chart.
____________________
US dollar vs Canadian dollar
Range development and breakdown direction :
- resistance level of 1.3310 at the upper boundary of ISL61.8 equilibrium zoneof the Minuette operational scale fork;
- support level of 1.3290 on at the final Schiff Line Minuette;
will begin to determine the development of the movement of the Canadian dollar USD / CAD from November 29, 2019.
The breakdown of the upper boundary of ISL61.8 (resistance level of 1.3310) of the equilibrium zone of the Minuette operational scale fork - continuation of the development of the upward movement of USD / CAD to the local maximum 1.3327, and when updating it, it will become possible for the price to reach the channel boundaries of the 1/2 Median Line Minuette (1.3340 - 1.3355 - 1.3375).
Meanwhile, the breakdown of the final Schiff Line Minuette (support level of 1.3290) will determine the movement of the Canadian dollar to the 1/2 Median Line Minuette (1.3267), during the breakdown of which, it will be possible to reach the boundaries of the equilibrium zone (1.3265 - 1.3237 - 1.3220) of the Minuette operational scale fork, and as an option - update the local minimum 1.3190.
From November 29, 2019, we look at the layout of USD / CAD movement options on the animated chart.
____________________
New Zealand dollar vs US dollar
From November 29, 2019, the development of the New Zealand dollar/ US dollar (NZD / USD) movement will depend on the development and the breakdown direction of the range :
- resistance level of 0.6437 (lower boundary of the 1/2 Median Line channel of the Minuette operational scale fork);
- support level of 0.6420 (start line SSL of the Minuette operational scale fork).
If a breakdown of the support level of 0.6420 takes place on the initial line of SSL of the Minuette operational scale fork, then the development of the downward movement of the New Zealand dollar to the goals will become relevant : the warning line LWL38.2 Minuette (0.6387) - the control line LTL Minuette (0.6377) - 1/2 Median Line channel (0.6370 - 0.6355 - 0.6335) of the Minuette operational scale fork with the prospect of updating the local minimum 0.6317.
In case of breakdown of the resistance level 0.6437, the movement of NZD / USD will continue in the 1/2 Median Line Minuette channel (0.6437 - 0.6457 - 0.6477), and when the upper boundary (0.6477) of this channel is broken, the price of the instrument will be directed to the boundaries of the equilibrium zone (0.6490 - 0.6513 - 0.6535) of the Minuette operational scale fork.
From November 29, 2019, we look at the markup of the NZD / USD movement on the animated chart.
____________________
The review was compiled without taking into account the news background. Thus, the opening 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 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