US dollar index
The movement of the dollar index #USDX from February 21, 2020 will be determined by the direction of the breakdown of the range :
- resistance level of 99.95 - warning line UWL61.8 of the Minuette operational scale forks;
- support level of 99.65 - warning line UWL38.2 of the Minuette operational scale forks.
In case of breakdown of the warning line UWL38.2 (support level of 99.65) of the Minuette operational scale forks - there will be an option for developing a downward movement of the dollar index to the boundaries of the equilibrium zone (99.45 - 99.25 - 99.05) of the Minuette operational scale forks.
On the other hand, when the warning line UWL61.8 (resistance level of 99.95) forks of the operational scale Minute is broken, it will be possible to continue the upward movement of #USDX to the final line FSL (100.10) of the Minuette operational scale forks and the warning line UWL100.0 Minuette (100.40).
The details of the #USDX movement is presented on the animated chart.
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Euro vs US dollar
The development of the movement of the single European currency EUR / USD from February 21, 2020 will continue depending on the direction of the breakdown of the range :
- resistance level of 1.0825 - warning line LWL38.2 of the Minuette operational scale forks;
- support level of 1.0790 - warning line LWL61.8 of the Minuette operational scale forks.
The breakdown of the resistance level of 1.0825 on the warning line LWL38.2 Minuette is an option for the development of the upward movement of the single European currency towards the goals:
- equilibrium zone (1.0840 - 1.0855 - 1.0865) of the Minuette operational scale forks;
- ultimate Schiff Line Minuette (1.0880);
- 1/2 Median Line Minuette channel (1.0925 - 1.0935 - 1.0950).
Alternatively, the breakdown of the support level 1.0790 on the warning line LWL61 of the Minuette operational scale forks will confirm the development of the downward movement of EUR / USD to the targets:
- warning line LWL100.0 Minuette (1.0735);
- control line LTL Minuette ( 1.0650 ).
The details of the EUR / USD movement options are shown on the animated chart.
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Great Britain pound vs US dollar
Since February 21, 2020, Her Majesty's currency GBP / USD will continue to develop its movement depending on the development of fork lines :
- the initial line of SSL of the Minuette operational scale forks - 1.2810 ;
- the upper boundary of the 1/2 Median Line Minuette channel is 1.2895.
The GBP / USD pair above the levels 1.2895 - 1.2910 - an option for the development of upward movement to the borders of the 1/2 Median Line channel (1.2975 - 1.3005 - 1.3045) of the Minuette operational scale forks with the prospect of updating the local maximum 1.3070.
Meanwhile, the GBP / USD pair below the levels - 1.2910 - 1.2895 - Her Majesty's currency movement will continue to develop within the 1/2 Median Line Minuette channel (1.2895 - 1.2865 - 1.2835) and the equilibrium zone (1.2855 - 1.2800 - 1.2740) of the Minuette operational scale.
The details of the GBP / USD movement can be seen on the animated chart.
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US dollar vs Japanese yen
The development of the USD / JPY currency movement of the country of the rising sun from February 21, 2020 will be due to the development and direction of the breakdown of the borders of the equilibrium zone (111.45 - 111.80 - 112.35) of the Minuette operational scale forks - coincides with the equilibrium zone of the Minute operational scale forks. We look at the development details on the animated chart.
The breakdown of the lower boundary of the ISL38.2 (support level of 111.45) equilibrium zone of the Minuette operational scale forks will lead to the downward movement of USD / JPY and will continue to the goals:
- the final Schiff Line Minuette (111.20);
- 1/2 Median Line Minuette channel (110.30 - 110.05 - 109.80).
On the other hand, the breakdown of the upper border of ISL61.8 (resistance level of 112.25) of the equilibrium zone of the Minuette operational scale forks - an option to continue the development of the upward movement of the currency of the "land of the rising sun" to the final line FSL Minuette (113.70).
We look at the details of the USD / JPY movement on the animated chart.
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The review was compiled 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.
