Minute operational scale (H4)
How will the main currencies behave in relation to each other - options for the development of the movement of EUR/GBP & GBP/JPY & EUR/JPY in the H4 timeframe from July 24, 2020.
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Euro vs Great Britain pound
From July 24, 2020, the development of the movement of the "main" cross-instrument EUR/GBP will continue to be determined by the development and the direction of the breakdown of the boundaries of the 1/2 Median Line (0.9130 - 0.9100 - 0.9070) of the Minuette operational scale forks - see the animation chart for details of these levels.
A breakdown of the support level of 0.9070 at the lower border of the channel 1/2 Median Line in the Minuette operational scale will make it relevant to continue the downward movement of the "main" cross-tool to the goals:
- initial SSL line (0.9035) of the Minute operational scale forks;
- local minimum 0.9000;
- LTL Minuette control line (0.8965);
- minimum 0.8937.
If the resistance level of 0.9130 breaks at the upper border of the channel 1/2 Median Line Minuette, the EUR/GBP movement will continue in the equilibrium zone (0.9155 - 0.9200 - 0.9245) of the Minuette operational scale forks with the prospect of updating the maximum 0.9279.
The EUR/GBP movement options from July 24, 2020 are shown on the animated chart.
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Euro vs Japanese yen
The development of the movement of the EUR/JPY cross-instrument will continue from July 24, 2020, depending on the development and direction of the breakdown of the range:
- resistance level 124.26 - initial SSL Minuette line;
- support level 123.85 - reaction line RL23.6 of the Minuette operational scale forks.
The breakdown reaction lines RL23.6 resistance - support level 123.85 - will direct the development of the movement of this cross-tool to the borders of the channel 1/2 Median Line (123.55 - 123.30 - 123.10) and equilibrium zone (122.90 - 122.50 - 122.05) of the Minuette operational scale forks with the ability to achieve lower border of the channel 1/2 Median Line (121.35) of the Minute operational scale forks.
The sequential breakdown of the resistance level of 124.26 in the initial line SSL Minuette and the control line UTL (124.40) of the Minuette operational scale forks upward movement of the EUR/JPY may continue to prevent UWL38.2 (125.00) and UWL61.8 (126.25) lines of the Minute operational scale forks with the ability to achieve a price cross-tool control line UTL Minute (126.70).
We look at the EUR/JPY movement options from July 24, 2020 on an animated chart.
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Great Britain pound vs Japanese yen
The development of the movement of the EUR/JPY cross-instrument from July 24, 2020 will be due to the development and direction of the breakdown of the 1/2 Median Line channel boundaries (136.40 - 136.10 - 135.80) of the Minute operational scale forks - the movement markings within this channel are shown on the animated graphics.
Breakdown of the lower border of the channel 1/2 Median Line Minuette - support level 135.80 -
will make it relevant to develop the movement of GBP/JPY to the goals:
initial line SSL Minuette (135.50);
LTL Minuette control line (134.95);
with the prospect of reaching the boundaries of the equilibrium zone (134.25 - 133.00 - 131.60) of the Minute operational scale forks.
The breakdown of the upper border of the channel 1/2 Median Line Minuette - resistance movement 136.40 GBP/JPY will continue in the zone of equilibrium (136.40 - 136.85 - 137.60) of the Minuette operational scale forks of the achievement of the channel borders 1/2 Median Line (137.60 - 138.70 - 139.90) of the Minute operational scale forks.
Details of the development of the GBP/JPY movement from July 24, 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).
