New week - change of mood? - Comprehensive analysis of movement options - #USDX, EUR / USD, GBP / USD and USD / JPY - H4 for November 12, 2019
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US dollar index
Starting November 12, 2019, the development of the #USDX dollar index movement will be determined by the boundaries of the 1/2 Median Line channel (98.30 - 98.03 - 97.77) of the Minuette operational scale forks, taking into account the development of the boundaries of 1/2 Median Line channel (98.10 - 97.97 - 97.86) of the Minuette operational scale fork. Look at the details on the chart.
The breakdown of the support level of 97.77 at the lower boundary of the 1/2 Median Line channel, of the Minuette operational scale forks will direct the movement #USDX to the boundaries of the equilibrium zone (97.70 - 97.50 - 97.30) of the Minuette operational scale forks.
On the contrary, the breakdown of the resistance level of 98.30 on the upper boundary of the 1/2 Median Line Minuette channel, followed by the breakdown of the initial line SSL Minuette (98.35) and ISL38.2 Minuette (98.40) will determine the development of the movement of the dollar index in the equilibrium zone (98.40 - 98.75 - 99.11) of the Minuette operational scale.
The details of the #USDX movement are presented on the chart.
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Euro vs US Dollar
The development of the movement of the single European currency EUR / USD from November 12, 2019 will be determined by the development and the direction of the breakdown of the range :
- resistance level of 1.1060 (lower boundary of the 1/2 Median Line channel Minuette);
- support level of 1.1025 (reaction line RL100.0 forks of the Minuette operational scale forks)
In case of breakdown of the resistance level of 1.1060, the development of the single European currency movement will occur within the boundaries of the 1/2 Median Line channel (1.1060 - 1.1090 - 1.1122) of the Minuette operational scale forks and the equilibrium zone (1.1085 - 1.1105 - 1.1130) of the Minuette operational scale forks with the prospect of reaching the final Schiff Line Minuette (1.1144).
The breakdown of the reaction line RL100.0 Minuette (support level of 1.1025) with the subsequent update of the local minimum 1.1017 will determine the continuation of the downward movement of EUR / USD to the equilibrium zone (1.0975 - 1.0935 - 1.0890) of the Minuette operational scale forks.
The details of the EUR / USD movement options are shown on the chart.
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Great Britain pound vs US dollar
From November 12, 2019, the development of Her Majesty's GBP / USD currency movement will depend on the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.2840 - 1.2865 - 1.2885) and the equilibrium zone (1.2885 - 1.2917 - 1.2950) of the Minuette operational scale forks. We look at movement details on the animated chart.
The breakdown of the upper boundary of ISL61.8 (resistance level of 1.2950) of the equilibrium zone of the Minuette operational scale forks will confirm the further development of the GBP / USD movement in the 1/2 Median Line channel (1.2940 - 1.3012 - 1.3105) o of the Minuette operational scale forks.
In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.2840) the downward movement of Her Majesty's currency can be continued towards the goals - the initial line SSL Minuette (1.2782) - the control line LTL Minuette (1.2765) - the equilibrium zone (1.2725 - 1.2635 - 1.2540) of the Minuette operational scale forks.
The details of the GBP / USD movement can be seen on the chart.
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US dollar vs Japanese yen
The development of the USD / JPY currency movement of the "country of the rising sun" from November 12, 2019 will be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (109.05 - 108.85 - 108.70) of the Minuette operational scale forks. The details are shown on the chart.
The breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 108.70) - continuation of the development of the downward movement of the currency of the country of the "rising sun" to the boundaries of the equilibrium zones of the Minuette operational scale forks (108.15 - 107.75 - 107.45) and Minuette (107.75 - 107.35 - 106.95).
On the contrary, the return of USD / JPY above the upper boundary of the 1/2 Median Line channel (resistance level of 109.05) of the Minuette operational scale fork will make it possible to develop the upward movement of this currency instrument to the goals - maximums (109.29 - 109.50) - control line UTL Minuette (109.60) - warning lines UWL38.2 (109.70) - UWL61.8 (110.05) of the Minuette operational scale forks
The details of the USD / JPY movement are presented on the 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.
