Who will reign? The US dollar or noble metals? Here's a comprehensive analysis of options for the movement of #USDX vs Gold & Silver (DAILY) in April 2020
Minor operational scale (daily time frame)
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US dollar index
The movement of the #USDX dollar index in April 2020 will be determined depending on the development and the direction of breakdown of the boundaries of the equilibrium zone (98.80 - 99.90 - 101.10) of the Minor operational scale forks. We look at the details of movement inside this equilibrium zone on the animated chart.
The upward movement of the dollar index can be continued in case of breakdown of the resistance level of 101.10 on the upper boundary of the ISL61.8 equilibrium zone of the forks of the operational Minor scale and the targets of this movement will be :
- the final Shiff Line Minor (101.80);
- maximum 102.99;
with the prospect of reaching the warning line UWL38.2 (103.50) of the Minuette operational scale forks.
Meanwhile, the downward movement of #USDX will become relevant in the event of a breakdown of the support level 98.80 at the lower boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks and will flow inside the equilibrium zone (98.80 - 97.70 - 96.40) of the Minuette operational scale forks.
The markup of #USDX movement options in April 2020 is shown on the animated chart.
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Spot Silver
The development of the Spot Silver movement in April 2020 will be determined by the development and direction of the breakdown of the boundaries of 1/2 Median Line channel (13.000 - 13.850 - 14.400) of the Minuette operational scale forks. The markup of the development of the above levels is presented on the animated chart.
The breakdown of the support level of 13.000 on the lower boundary of the 1/2 Median Line Minuette channel will make it possible to continue the development of the downward movement of Spot Silver to the goals:
- minimum 11.585;
- SSL start line (11.250) of the Minuette operational scale forks.
On the contrary, in case of breakdown of the upper boundary (resistance level of 14.400) of the 1/2 Median Line Minuette channel, Spot Silver movement will continue within the boundaries of the equilibrium zones of the Minuette operational scale forks (14.000 - 14.800 - 15.570) and Minor (14.400 - 15.200 - 16.030) with the prospect of continuing this movement already in the 1/2 Median Line Minor channel (15.570 - 16.300 - 16.989). The details of the Spot Silver movement options for April 2020 is shown on the animated chart.
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Spot Gold
The development of the Spot Gold movement in April 2020 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (1577.00 - 1605.00 - 1640.00) of the Minuette operational scale forks. The details of the development of the indicated levels is presented on the animated chart.
The breakdown of the lower boundary of the ISL38.2 (support level of 1570.00) equilibrium zone of the Minuette operational scale forks will lead to the option of developing the downward movement of Spot Gold to the boundaries of the equilibrium zone (1530.00 - 1474.00 - 1421.00) of the Minor operational scale forks.
Alternatively, the breakdown of the upper boundary of the ISL61.8 (resistance level 1640.00) equilibrium zone of the Minuette operational scale forks will lead to the option for resuming the upward movement of Spot Gold to maximum 1702.84.
The details of the Spot Gold movement in April 2020 can be seen on the animated chart.
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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").
