Minuette operational scale (H4)
The second half of June - options for the development of the movement for EUR/GBP, GBP/JPY, and EUR/JPY (H4) on June 12, 2020
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Euro vs Great Britain pound
From June 12, 2020, the development of the movement of the "main" EUR/GBP cross-instrument will be determined by the direction of the breakout of the range:
- resistance level of 0.9000 - the lower limit of ISL38.2 balance zone of the Minuette operational scale fork;
- support level of 0.8970 - upper border of the channel 1/2 Median Line Minuette.
If the support level of 0.8970 will make the actual development of the movement of EUR/GBP in the channel 1/2 Median Line (0.8970-0.8950-0.8925) of the Minuette operational scale fork and the achievement of the initial price of the instrument lines - SSL Minuette (0.8900) and SSL Minute (0.8880) - during the breakdown, it will be possible to update local minimum 0.8863 and the breakdown of the control line LTL Minuette (0.8855) with the prospect of reaching the upper boundary of the 1/2 Median Line (0.8750) of the Minuette operational scale fork.
In the case of a breakdown of ISL38.2 Minuette - the resistance level of 0.9000 - the development of the movement of the "main" cross-tool will occur in the equilibrium zone (0.9000-0.9035-0.9070) of the Minuette operational scale fork with the possibility, after the breakdown of ISL61.8 Minuette (0.9070), to reach the final line FSL Minuette (0.9190).
The EUR/GBP movement options from June 12, 2020 are shown on the animated chart.
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Great Britain pound vs Japanese yen
The development of the GBP/JPY cross-instrument movement from June 12, 2020 will be determined by the development and direction of the breakdown range:
- resistance level of 136.40 - 1/2 Median Line Minuette;
- support level of 135.20 - upper limit of the ISL38.2 equilibrium zone of the Minuette operational scale fork.
The breakdown of the support level of 135.20 on ISL38.2 Minuette will determine the further development of the GBP/JPY movement in the equilibrium zone (135.20-133.95-132.60) of the Minuette operational scale forks with the possibility of reaching the LTL control line (131.70) of the Minuette operational scale forks.
With the breakdown of 1/2 Median Line Minute - resistance level of 136.40 - it will be possible to develop the movement of GBP/JPY to the targets:
- SSL start line (139.45) of the Minuette operational scale fork;
- local maximum 139.71;
- equilibrium zones (140.25-142.50-143.80) of the Minuette operational scale fork.
From June 12, 2020, we look at the GBP/JPY movement options on the animated chart.
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Euro vs Japanese yen
The development of the movement of the EUR/JPY cross-instrument in June 2020 will also depend on the development and direction of the breakdown of the range:
- resistance level of 122.15 - upper limit of the channel 1/2 Median Line of the Minuette operational scale fork;
- support level of 121.25 - upper bound of ISL61.8 balance zone of the Minuette operational scale fork.
In case of breakdown ISL61.8 Minute - support level 121.05 - the development of the EUR/JPY movement can continue within the boundaries of the equilibrium zones of the operational scale forks - Minuette (121.25-120.25-119.25) and Minuette (120.75-119.60-118.45) with the prospect of reaching the final Shiff Line Minuette (117.80) and the upper boundary of the channel 1/2 Median Line Minute (116.75).
The continuation of the upward movement of EUR/JPY after the breakout of the upper boundary of 1/2 Median Line of the Minuette operational scale fork - resistance level of 122.15 - and this will be directed to the targets:
- maximum 124.40.
- FSL end line (124.60) of the Minuette operational scale fork;
- UTL control line (125.05) of the Minuette operational scale fork.
Details of the development of the EUR/JPY movement from June 12, 2020 are shown on the animated chart.
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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).
