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01.04.202003:50 Comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) on April 01, 2020

Long-term review

Minuette operational scale (H4)

A day of laughter (April Fool's day) or fun continues in the markets. Here's the development options for the movement of the main currency instruments #USDX vs EUR / USD vs GBP / USD vs USD / JPY from April 1, 2020 in a comprehensive form

____________________

US dollar index

The movement of the dollar index #USDX from April 1, 2020 will be due to the development and direction of the breakdown of the range:

  • resistance level of 99.75 - the lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks;
  • support level of 99.25 - the starting line of SSL of the Minuette operational scale forks

The breakdown of the resistance level of 99.75 is an option for the development of the movement of the dollar index in the 1/2 Median Line Minuette channel (99.75 - 100.65 - 101.55) with the prospect of reaching the SSL Minuette start line (102.40) and the equilibrium zone (102.70 - 104.10 - 104.75) of the Minuette operational scale.

On the other hand, with a sequential breakdown of the resistance level of 99.25 on the initial SSL line of the Minuette operational scale forks and ISL38.2 Minuette (99.50), the movement #USDX will occur again in the equilibrium zone (99.05 - 98.00 - 96.90) of the Minuette operational scale forks.

The details of marking the movement of the dollar index from April 1, 2020 are presented on the animated chart.

Exchange Rates 01.04.2020 analysis

____________________

Euro vs US dollar

From April 1, 2020, the development of the movement of the single European currency EUR / USD will continue depending on the development and the breakdown direction of the range:

  • resistance level of 1.0992 - lower boundary of ISL61.8 of the Minuette operational scale forks;
  • support level of 1.032 - the ultimate Schiff Line Minuette.

The breakdown of the final Schiff Line (support level of 1.0932) Minuette will lead to an option to continue the downward movement of the single European currency to the goals:

- reaction line RL61.8 (1.0895) of the Minuette operational scale forks;

- SSL start line (1.0765) of the Minuette operational scale forks

Alternatively, the breakdown of ISL61.8 (resistance level of 1.0992) Minuette will lead to the option of resuming the movement of EUR / USD in the equilibrium zone (1.0992 - 1.1081 - 1.1170) of the Minuette operational scale forks and during the breakdown of ISL38.2 Minuette (1.1170), the movement of this instrument will already begin to flow in the equilibrium zone (1.1150 - 1.1280 - 1.1400) of the Minuette operational scale forks.

The details of the EUR / USD movement options is shown on the animated chart.

Exchange Rates 01.04.2020 analysis

____________________

Great Britain pound vs US dollar

Her Majesty's GBP / USD currency from April 1, 2020 will continue to develop its movement in the equilibrium zone (1.2070 - 1.2290 - 1.2500 of the Minuette operational scale forks. The details of working out the indicated levels are presented on the animated chart.

The breakdown of the support level of 1.2070 on the lower boundary of ISL61.8 of the equilibrium zone of the Minuette operational scale forks is a continuation of the downward movement of Her Majesty's currency to the equilibrium zone (1.1940 - 1.1750 - 1.1570) of the Minuette operational scale forks.

Meanwhile, in case of breakdown of the upper boundary of the ISL38.2 (resistance level of 1.2500) equilibrium zone of the of the Minuette operational scale forks, the upward movement of GBP / USD will continue to the boundaries of the 1/2 Median Line Line Minuette channel (1.2635 - 1.2815 - 1.2995).

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

Exchange Rates 01.04.2020 analysis

____________________

US dollar vs Japanese yen

The currency of the "land of the rising sun" USD / JPY from April 1, 2020 will continue to develop its movement depending on the development and direction of breakdown of the boundaries of the equilibrium zone (107.50 - 108.30 - 109.10) of the Minuette operational scale forks. The details of the development of the mentioned levels are presented on the animated chart.

The breakdown of the upper boundary of ISL38.2 (resistance level of 109.10) equilibrium zone of the Minuette operational scale fork will lead to the continuation of the development of the upward movement of USD / JPY to the goals:

- final line FSL (109.90) of the Minuette operational scale forks;

- ultimate Schiff Line Minuette (110.50);

- 1/2 Median Line Minuette channel (112.00 - 112.50 - 113.00).

On the contrary, the breakdown of the lower boundary of ISL61.8 (support level of 107.50) of the equilibrium zone of the Minuette operational scale forks will lead to the continuation of the downward movement of USD / JPY to the equilibrium zone (106.10 - 104.90 - 103.70) of the Minuette operational scale forks.

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

Exchange Rates 01.04.2020 analysis

____________________

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").

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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