What did Monday, October 21, 2019 prepared for us in the market? Here's a comprehensive analysis of movement options of #USDX, EUR / USD, GBP / USD and USD / JPY (H4)
Minuette (H4 time frame)
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US dollar Index
From October 21, 2019 the movement of the dollar index #USDX will continue depending on the direction of the breakdown of the range :
- resistance level of 97.55 (the initial line of SSL Minuette operating scale fork);
- support level of 97.45 (control line LTL Minuette operating scale fork).
In case of breakdown of the LTL control line Minuette operational scale fork (support level of 97.45) together with the lower boundary of the ISL61.8 (support level of 97.35) equilibrium zone of the Minuette operational scale fork, the downward movement of the dollar index can continue to the FSL Minuette end line (96.05).
The breakdown of the SSL Minuette initial line (resistance level of 97.55) will determine the development of movement towards the goals - the Median Line Minuette channel (97.75) - the upper boundary of the ISL38.2 (98.10) equilibrium zone of the Minuette operational scale fork with the prospect of reaching #USDX of the boundaries of the equilibrium zone (98.55 - 98.85 - 99.20) of the Minuette operational scale fork.
The details of the #USDX movement are presented in the animated chart.
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Euro vs US dollar
The single European currency EUR / USD from October 21, 2019 will begin to develop its movement depending on mining and the direction of breakdown of the range :
- resistance level of 1.1152 (control line UTL Minuette operational scale fork - local maximum);
- support level of 1.1125 (reaction line RL100.0 Minuette operational scale fork)
Updating the local maximum - breakdown of the UTL control line (resistance level of 1.1152) of the Minuette operational scale fork - continuation of the upward movement of the single European currency towards the targets - lower boundary of the ISL38.2 (1.1180) equilibrium zone of the Minuette operational scale fork - final Schiff Line Minuette (1.1205) - the median line channel of the Minuette (1.1245).
The breakdown of the reaction line RL100.0 (support level of 1.1125) of the Minuette operational scale fork will direct the development of the EUR / USD movement towards the goals - the boundary of the red zone (1.1065) Minuette operational scale fork - the boundaries of the 1/2 Median Line channel (1.1055 - 1.1030 - 1.1000) and the equilibrium zone (1.1020 - 1.0975 - 1.0935) of the Minuette operational scale fork.
The details of the EUR / USD movement options are shown in the animated chart.
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Great Britain pound vs US dollar
Her Majesty's GBP / USD currency from Monday, October 21, 2019, will begin to develop its movement depending on the development and direction of the breakdown range :
- resistance level of 1.2910 (reaction line RL161.8 Minuette operational scale fork);
- support level of 1.2765 (the upper boundary of the 1/2 Median Line channel of Minuette operational scale fork).
The breakdown of the reaction line RL161.8 (resistance level of 1.2190) of the Minuette operational scale with a consistent breakdown of the initial SSL (1.2989 - local maximum) and control UTL (1.3020) of the lines of the Minuette operational scale fork will determine the continuation of the development of the upward movement of Her Majesty's currency to the final FSL (1.3180) and the warning UWL38.2 (1.3420) lines of the Minuette operational scale fork.
The breakdown of the support level of 1.2765 - continuation of the development of the GBP / USD movement within the 1/2 Median Line Minuette (1.2765 - 1.2695 - 1.2625) and equilibrium zones of the Minuette operational scales fork (1.2695 - 1.2595 - 1.2500) and Minuette (1.2695 - 1.2550 - 1.2400) with the prospect of reaching the final line FSL Minuette (1.2205).
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 previous cases, the movement of the currency of the "country of the rising sun" USD / JPY from October 21, 2019 will also be determined by the direction of the breakdown of the range :
- resistance level of 108.55 (starting line SSL Minuette operational scale fork);
- support level of 108.25 (the upper boundary of the 1/2 Median Line channel of Minuette operational scale fork).
The breakdown of the support level of 108.25 - the development of the currency of the "country of the rising sun" will begin to occur in the 1/2 channel Median Line Minuette (108.25 - 108.00 - 107.75) with the prospect of reaching the boundaries of the equilibrium zones of the Minuette operational scale fork (107.65 - 107.05 - 106.50) and Minuette (107.20 - 106.75 - 106.30).
The breakdown of the SSL start line (resistance level of 108.55) of the Minuette operational scale fork will make the development of the USD / JPY upward movement towards the targets relevant - local maximum 108.95 - UTL Minuette control line (109.05) - final line FSL (109.50) of the Minuette operational scale fork - warning line UWL38.2 Minuette (110.45).
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 power factors 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.
