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Long-term review

We will consider, in a comprehensive manner, how the development of the movement of currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY will begin to flow from September 12, 2019.

Minuette operational scale (H4 time frame)

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US dollar index

The dollar index #USDX in 1/2 Median Line channel (98.90 - 98.60 - 98.40) of the Minuette operational scale fork, respectively, further development of the movement of this instrument from September 12, 2019 will be determined by working out and the direction of breakdown of the above levels. We look at the animated chart for details.

The breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 98.80) of the Minuette operational scale fork will confirm the further development of the dollar index movement in the equilibrium zone (98.57 - 99.05 - 99.30) of the Minuette operational scale fork with the prospect of updating maximum 99.37 and reaching the UTL Minuette control line (99.50).

If the lower boundary of the 1/2 Median Line Minuette channel (breakdown level of 98.40) is broken, the downward movement of #USDX can be continued to the initial SSL line (98.00) of the Minuette operational scale fork and the boundaries of the equilibrium zone (97.86 (local minimum) - 97.45 - 97.10) Minuette operational scale fork.

The details of the #USDX movement are presented in the animated chart.

Exchange Rates 12.09.2019 analysis

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Euro vs US dollar

The single European currency continues to remain in the 1/2 Median Line channel (1.1045 - 1.1015 - 1.0985) of the Minuette operational scale fork. Therefore, from September 12, 2019, the further development trend of the EUR / USD movement will be determined by the direction of the breakdown of this channel. The details are shown in the animated graphics.

With a joint breakdown of the support levels of 1.0985 and 1.0975 (the lower boundary of the 1/2 Median Line channel of the Minuette operational scale fork), the development of the single European currency can continue in the 1/2 Median Line Minuette channel (1.0975 - 1.0955 - 1.0935), and when updating the minimum 1.0926, it will be relevant to achieve at the price of this instrument the boundaries of the equilibrium zone (1.0910 - 1.0880 - 1.0855) of the Minuette operational scale fork.

In turn, if the upper boundary of the 1/2 Median Line Minuette channel is broken (resistance level of 1.1045), then there may be a development of the upward movement of EUR / USD to the local maximum of 1.1085 and the boundaries of the equilibrium zone (1.1120 - 1.1175 - 1.1220) of the Minuette operating scale fork.

The details of the EUR / USD movement options are shown in the animated chart.

Exchange Rates 12.09.2019 analysis

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Great Britain pound vs US dollar

The development of Her Majesty's currency movement GBP / USD and from September 12, 2019, will be determined by the direction of the breakdown of the range :

  • resistance level of 1.2350 (the upper boundary of ISL61.8 is the equilibrium zone of the Minuette operational scale fork);
  • support level of 1.2325 (final Schiff Line Minuette).

The breakdown of the final Schiff Line Minuette (support level of 1.2325) will make it possible to develop the downward movement of Her Majesty's currency to the goals - the Median Line Minuette (1.2270) - the equilibrium zone (1.2255 - 1.2215 - 1.2165) of the Minuette operational scale fork with the prospect of reaching the a Median Line Minuette channel (1.2140 - 1.2100 - 1.2060).

The breakdown of the upper boundary ISL61.8 (resistance level of 1.2350) of the equilibrium zone of the Minuette operational scale fork will direct the development of movement to the local maximum 1.2384, and when it is updated, the upward movement can continue to the final line FSL (1.2410) of the Minuette operational scale fork with the prospect of reaching the final line FSL Minuette (1.2610).

The details of the GBP / USD movement can be seen in the animated chart.

Exchange Rates 12.09.2019 analysis

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US dollar vs Japanese yen

Starting September 12, 2019, the movement of the USD / JPY currency of the "land of the rising sun" will be determined by the development and the direction of the breakdown of the boundaries of the equilibrium zone (108.35 - 107.85 - 107.45) of the Minuette operational scale fork. The development options for this zone are shown in the animation chart.

The breakdown of the upper boundary of ISL61.8 (resistance level of 108.35) of the equilibrium zone of the Minuette operational scale fork will direct the development of the currency of the country of the rising sun to maximum 109.33 .

In case of breakdown of the lower boundary of ISL38.2 (support level of 107.45) of the equilibrium zone of the Minuette operational scale fork, the development of the USD / JPY movement will continue in the equilibrium zone (107.55 - 106.95 - 106.40) of the Minuette operational scale fork with the possibility of reaching the channel boundaries 1/2 Median Line Minuette (106.20 - 105.70 - 105.25).

We look at the details of the USD / JPY movement in the animated chart.

Exchange Rates 12.09.2019 analysis

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The review is made without taking into account the news background. 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.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Ratu Taslim,
Analytical expert
InstaForex Group © 2007-2019
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