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Long-term review

Minor operational scale (Daily)

The last week of spring and the beginning of summer - how the dollar index #USDX and the "raw" currencies AUD/USD, USD/CAD, and NZD/USD will behave - options for the development of the movement from May 26, 2020.

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US dollar index

From May 26, 2020, the movement of the dollar index (#USDX) will be determined by the development and direction of the breakdown of the range:

  • resistance level of 100.10 to the control line LTL of the Minuette operational scale fork;
  • support level of 99.45 at the upper border of ISL38.2 equilibrium zone of the Minor operational scale fork.

When the LTL control line is broken, the minute fork - the resistance level of 100.10 - followed by the breakout of 1/2 Median Line Minor (110.20) will determine the continuation of the upward movement of the dollar index towards the goals:

  • upper bound of channel 1/2 Median Line Minor (101.20);
  • initial SSL line (102.60) of the Minor operational scale fork.

The sequential breakdown ISL38.2 Minor support level of 99.45 and lower border of the channel 1/2 Median Line Minor 99.25 - it is confirmed that no further movement #USDX will flow in the zone of equilibrium (99.45-98.45-97.45) of the Minor operational scale fork prospect of achieving the ultimate Shiff Line Minor (96.30).

The markup of #USDX motion options from May 26, 2020 is shown on the animated chart.

Exchange Rates 25.05.2020 analysis

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Australian dollar vs US dollar

The development of the movement of the Australian dollar (AUD/USD) from May 26, 2020 will depend on the development and direction of the breakdown of the range:

  • resistance level of 0.6575 on the initial line of the SSL of the Minuette operational scale fork;
  • support level of 0.6470 on the reaction line RL38.2 of the Minor operational scale fork.

The breakdown of the reaction line RL38.2 of the Minor operational scale fork - support level 0.6470 - will direct the movement of the Australian dollar to the borders of the 1/2 Median Line channel (0.6430-0.6305-0.6185) and the equilibrium zone (0.6140-0.5990-0.5820) of the Minor operational scale fork.

In case of a joint breakdown of resistance levels:

  • 0.6575 - initial line of SSL of the Minuette operational scale fork
  • 0.6617 - control line UTL Minute;
  • 0.6666 - initial line of SSL of the Minor operational scale fork;

The upward movement of AUD/USD can be continued towards the goals:

  • UTL control line (0.6800) of the Minor operational scale fork;
  • warning line UWL38. 2 Minor (0.6910);
  • maximum 0.7034.

The markup of the AUD/USD movement options in May 2020 is shown on the animated chart.

Exchange Rates 25.05.2020 analysis

____________________

US dollar vs Canadian dollar

The development of the movement of the Canadian dollar (USD/CAD) from May 26, 2020 will also depend on the development and direction of the breakdown range:

  • resistance level of 1.4030 on the control line LTL of the Minuette operational scale fork;
  • support level of 1.3930 on the Median Line of the Minor operational scale fork.

A breakdown of the support level of 1.3930 on the Median Line Minor followed by an update of the local minimum 1.3849 will direct the development of the USD/CAD movement to the borders of the 1/2 Median Line channel (1.3780-1.3660-1.3530) of the Minor operational scale fork.

A breakdown of the resistance level of 1.4030 on the control line LTL of the Minuette operational scale fork will determine the development of the movement of the Canadian dollar to the goals:

  • upper bound of ISL61.8 (1.4100) equilibrium zone of the Minor operational scale fork;
  • ultimate Shiff Line Minor (1.4220);
  • channel 1/2 Median Line (1.4515-1.4667-1.4820) of the Minuette operational scale fork.

The markup of the USD/CAD movement options from May 26, 2020 is shown on the animated chart.

Exchange Rates 25.05.2020 analysis

____________________

New Zealand dollar vs US dollar

The development of the movement of the New Zealand dollar (NZD/USD) from May 26, 2020 as well as other tools, will depend on the practice and direction of a breakout of the range:

  • resistance level of 0.6140 on the lower border of the channel 1/2 Median Line of the Minor operational scale fork;
  • support level of 0.6070 at the upper boundary ISL38.2 equilibrium zone of the Minor operational scale fork.

The breakdown ISL38.2 Minor - support level of 0.6070 - together with the breakdown of the control line UTL (0.6050) of the Minuette operational scale fork will determine the development of the movement in the NZ dollar in the zone of equilibrium (0.6070-0.5930-0.5800) of the Minor operational scale fork prospect of the achievement of the channel borders 1/2 Median Line (0.5690-0.5570-0.5450) of the Minuette operational scale fork.

When the resistance level of 0.6140 breaks, the development of the NZD/USD movement will continue in the 1/2 Median Line channel (0.6140-0.6230-0.6320) of the Minor operational scale fork with the prospect of reaching the initial SSL Minor line (0.6480).

We look at the markup of the NZD/USD movement options in May 2020 on the animated chart.

Exchange Rates 25.05.2020 analysis

____________________

The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers, and is not a guide to action (placing "sell" or "buy" orders).

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 currencies in the basket:

Euro - 57.6 %;

Yen - 13.6 %;

Pound - 11.9 %;

Canadian dollar - 9.1 %;

Swedish Krona - 4.2 %;

Swiss franc - 3.6 %.

The first coefficient in the formula brings the index value to 100 on 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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