Minuette operational scale (Daily time frame)
A new study of options for the development of the dollar index movement #USDX vs AUD/USD, USD/CAD, and NZD/USD on April 21, 2020.
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US dollar index
The development of the movement of the dollar index #USDX from April 21, 2020 will be determined depending on the development and direction of the breakdown of the range:
- resistance level of 99.90 at the lower border of the channel 1/2 Median Line Minuette;
- support level of 99.55 on the initial SSL line of the Minuette operating scale fork.
When the initial SSL line is broken, the Minuette operational scale fork - support level of 99.55 - option to continue the downward movement #USDX to the goals:
- LTL control line (99.05) for the Minuette operational scale forks;
- local minimum (98.82-98.27);
- upper bound of ISL38.2 (98.15) of the balance zone of the Minuette operational scale forks.
In the event of a breakdown of the resistance level of 99.90, the development of the #USDX movement will continue in the 1/2 Median Line Minuette channel (99.90-100.20-100.50) with the prospect of reaching the boundaries of the equilibrium zone (100.80-101.20-101.60) of the Minuette operational scale fork.
Details of the dollar index movement markup from April 21, 2020 are shown in the animated chart.
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Australian dollar vs US dollar
From April 21, 2020, the development of the movement of the Australian dollar AUD/USD will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (0.6345-0.6385-0.6425) of the Minuette operational scale forks - we look at the animated chart for movement details within this channel.
A consistent break of the upper border of the channel 1/2 Median Line of the Minuette operational scale forks - resistance level of 0.6425 and the initial line SSL Minuette (0.6446) will determine the continuation of the upward movement AUD/USD to the warning line UWL61.8 (0.6555) trading recommendations.
In case of a breakdown of the lower border of the channel 1/2 Median Line Minuette - the support level of 0.6345 - the downward movement of the Australian dollar will be directed to the equilibrium zone (0.6270-0.6215-0.6160) of the Minuette operational scale fork.
The markup of the AUD/USD movement options from April 21, 2020 is shown on the animated chart.
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US dollar vs Canadian dollar
The development of the movement of the Canadian dollar USD/CAD from April 21, 2020 will depend on the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.3995-1.4045-1.4095) of the Minuette operational scale fork - details of working out these borders are shown on the animated graph.
The breakdown of the support level of 1.3995 at the lower border of the channel 1/2 Median Line of the Minuette operational scale fork will make the actual continuation of the downward movement of USD/CAD to a local minimum 1.3855 and the line of control LTL (1.3820) of the Minuette operational scale fork.
The breakdown of the upper border of the channel 1/2 Median Line of the Minuette operational scale fork - resistance level of 1.4095 - the development of the movement of the Canadian dollar within the boundaries of the equilibrium zones of the Minuette operational scale fork - Minute (1.4095-1.4250-1.4400) and Minuette (1.4300-1.4400-1.4500) will become possible.
The markup of the USD/CAD movement options from April 21, 2020 is shown on the animated chart.
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New Zealand dollar vs US dollar
The development of the movement of the new Zealand dollar NZD/USD since April 21, 2020 will be dependent on the development and direction of a breakout of the range:
- resistance level of 0.6080 - initial line SSL of the Minuette operational scale fork;
- support level of 0.6055 - upper border of the channel 1/2 Median Line of the Minuette operational scale forks.
If the resistance level of 0.6080 on the starting line SSL fork operational scale Minuette will direct the development of the upward movement NZD/USD to targets:
- local maximum 0.6127;
- UTL control line (0.6155) of the Minuette operational scale forks;
- reaction line RL100.0 (0.6200) of the Minuette operational scale fork.
If there is a breakdown of the support level of 0.6055, the development of the movement of NZD/USD will occur within the boundaries of the channel 1/2 Median Line Minuette (0.6055-0.6025-0.6000) with the prospect of reaching the equilibrium zone (0.5940-0.5895-0.5850) of the Minuette operational scale fork.
From April 21, 2020, we look at the layout of the NZD/USD movement options 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).
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.
