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Long-term review

People are dying for metal. So, here's Comprehensive analysis of movement options of #USDX vs Gold & Silver (DAILY) from February 14, 2020

Minor (daily time frame)

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US dollar index

The movement of the #USDX dollar index from February 14, 2020 will depend on the direction of the breakdown range :

- resistance level of 99.15 - of the Minuette operational scale forks;

- support level of 98.80 - the lower boundary of the ISL38.2 equilibrium zone of the Minor operational scale forks. .

The breakdown of the lower boundary of the ISL38.2 (support level of 98.80) equilibrium zone of the Minor operational scale forks with subsequent breakdown of the upper boundary of the 1/2 Median Line Minor channel (98.70) will determine the development of the movement of the dollar index within the channel 1/2 Median Line Minor (98.70 - 98.25 - 97.85) and equilibrium zones (98.25 - 98.00 - 97.70) of the Minuette operational scale with the prospect of reaching the SSL Minor start line (97.15) and the SSL Minuette start line (96.80).

On the other hand, the breakdown of the resistance level of 99.15 on the final line of the FSL forks of the operational scale Minute will make the continuation of the upward movement of #USDX to the targets relevant:

- median line Median Line Minor (99.40);

- maximum 99.67 ;

- the upper boundary of ISL61.8 (99.95) of the equilibrium zone of the Minor operational scale forks;

- the final Shiff Line Minor (100.05).

The markup of #USDX movement options from February 14, 2020 is shown on the animated chart.

Exchange Rates 14.02.2020 analysis

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Spot Gold

The development of the Spot Gold movement from February 14, 2020 will be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1540.00 - 1557.00 - 1573.00) of the Minuette operational scale forks. See the details on the animated chart.

In case of breakdown of the resistance level of 1573.00 (upper boundary of the 1/2 Median Line Minuette channel), the upward movement of Spot Gold will continue to the goals:

- the initial line SSL Minuette (1600.00);

- UTL control line (1610.95) of the Minor operational scale forks;

- control line UTL (1630.00) of the Minuette operational scale forks.

Alternatively, in case of a breakdown of the support level of 1540.00 on the lower boundary of the 1/2 Median Line Minuette channel, it will direct the movement of this instrument to the boundary of the equilibrium zone (1529.00 - 1507.00 - 1485.00)of the Minuette operational scale forks and 1/2 of the Median Line channel (1507.00 - 1475.00 - 1444.00) of the Minor operational scale forks.

The details of the Spot Gold movement options from February 14, 2020 are shown in the animated chart.

Exchange Rates 14.02.2020 analysis

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Spot Silver

The movement of Spot Silver from February 14, 2020 will continue to be determined by working off the boundaries of the equilibrium zone (16.950 - 15.550 - 18.100) of the Minor operational scale forks. Look at the details on the animated chart.

In case of breakdown of the upper boundary of ISL38.2 forks of operational scale Minor - resistance level 18.100 - the upward movement of Spot Silver can be continued to the goals:

- control line UTL ( 18.550 ) of the Minuette operational scale forks;

- local maximums (18.810 - 19.610);

- SSL start line (20.100) of the Minor operational scale forks.

On the contrary, the breakdown of the lower boundary of the ISL61.8 (support level of 16.950) of the equilibrium zone of the Minor operational scale forks will confirm the further development of the movement of the instrument which will begin to occur already in the equilibrium zone (17.050 - 16.650 - 16.300) of the Minuette operational scale forks with the prospect of reaching the final Schiff Line Minuette (16.000).

The details of the Spot Silver movement from February 14, 2020 can be seen on the animated chart.

Exchange Rates 14.02.2020 analysis

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The review is made without taking into account the news background. Thus, the opening of trading sessions of major 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 starting date - 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 © 2007-2020
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