It is the last week of autumn - what's next? Variants of movement of the main currency instruments - #USDX, EUR/USD, GBP/USD and USD/JPY - DAILY in a comprehensive form on November 26, 2019
Minor operational scale (Daily time frame)
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US dollar Index
From November 26, 2019, the development of the movement of the dollar index #USDX will be determined by the direction of the breakdown of the range :
- resistance level 98.65 - 1/2 Median Line Minor;
- support level 98.30 - the lower boundary of the 1/2 Median Line channel Minor.
In case of breakdown of the resistance level 98.65 by 1/2 Median Line Minor, the movement of the dollar index can continue to the upper boundary of the 1/2 Median Line channel (99.00) of the Minor operational scale forks and the boundaries of the equilibrium zone (99.20 - 99.60 - 100.00) of the Minuette operational scale forks.
On the contrary, the breakdown of the lower boundary of the 1/2 Median Line channel (support level 98.30) of the Minor operational scale fork will make it urgent to resume the downward movement of #USDX to the SSL start line (98.05) of the Minuette operational scale fork and to the boundaries of the equilibrium zone (97.55 - 96.90 - 96.30) Minor operational scale fork.
The markup of #USDX movement options from November 26, 2019 is shown on the animated chart.
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Euro vs US dollar
The direction of the breakdown of the range :
- resistance level of 1.1055 (initial line SSL of the Minuette operational scale forks);
- support level of 1.0980 (upper boundary of the 1/2 Median Line Minuette channel);
will determine the further development trend of the movement of the single European currency EUR/USD from November 26, 2019
The breakdown of the support level of 1.0980 will determine the development of the EUR / USD movement in the 1/2 Median Line channel (1.0980 - 1.0935 - 1.0890) and the equilibrium zone (1.0890 - 1.0845 - 1.0790) of the Minuette operational scale forks.
Meanwhile, the breakdown of the resistance level of 1.1055 (the initial SSL line of the Minuette operational scale forks) will determine the development of the upward movement of the single European currency to the goals: the control line UTL Minuette (1.1105) - the 1/2 Median Line Minor (1.1130) - local maximum 1.1180, with the prospect of reaching the upper limit of ISL38 .2 (1.1405) equilibrium zones of the Minor operational scale forks
The details of the EUR / USD movement options from November 26, 2019 are shown on the animated chart.
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Great Britain pound vs US dollar
Starting November 26, 2019, the development of Her Majesty's GBP / USD currency movement will continue based on the breakdown direction of the range :
- resistance level of 1.2925 (1/2 Median Line Minor);
- support level of 1.2850 (the initial line of SSL of the Minuette operational scale forks).
The break of the support level 1.2850 (the starting line of the SSL Minuette operational scale forks) - a variant of the downward movement of GBP / USD to the lower boundary ISL38.2 (1.2735) equilibrium zone of the Minor operational scale forks and the breakdown thereof, it will be possible for the instrument to reach the price boundaries channel 1/2 Median Line (1.2510 - 1.2380 - 1.2240) and equilibrium zones (1.2330 - 1.2170 - 1.2010) of the Minuette operational scale forks.
Consecutive breakdown of resistance levels :
- 1.2925 - 1/2 Median Line Minor;
- 1.2955 - control line UTL of the Minuette operational scale forks;
- 1.3011 - local maximum;
will make it possible to continue the development of the upward movement of Her Majesty's currency to the upper boundary of ISL61.8 (1.3130) of the equilibrium zone of the Minor operational scale forks with the prospect of updating maximum 1.3630.
The details of the GBP/USD movement from November 26, 2019 can be seen on the animated chart.
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US dollar vs Japanese yen
The development of the currency of the "country of the rising sun" USD / JPY from November 26, 2019 will also depend on the direction of the breakdown of the range:
- resistance level of 109.30 (1/2 Median Line Minor);
- support level of 108.85 (starting line SSL of the Minuette operational scale forks).
Combined breakdown of resistance levels :
- 109.30 - 1/2 Median Line Minor;
- 109.55 - control line UTL of the Minuette operational scale forks;
will make it possible to develop the movement of the currency of the "land of the rising sun" to the upper boundary of ISL61.8 (110.30) of the equilibrium zone of the Minor operational scale forks with the prospect of updating maximum 112.42.
On the other hand, the breakdown of the support level of 108.85 (the initial SSL line of the Minuette operational scale forks) will direct the movement of USD / JPY to the lower boundary of the ISL38.2 (108.25) equilibrium zone of the Minor operational scale forks, during which the breakdown of the downward movement of this currency instrument can continue to the boundaries of the 1/2 Median Line channels of the Minuette operational scale forks (107.70 - 107.10 - 106.50) and Minor (107.10 - 106.30 - 105.55).
We look at the details of the USD / JPY movement on 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.
