Minor operational scale (Daily)
The third week of the first month of summer. Adjusting? Options for the development of the movement for #USDX vs EUR/USD, GBP/USD, and USD/JPY (Daily) on June 18, 2020.
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US dollar index
From June 18, 2020, the movement of the dollar index #USDX will continue depending on the direction of the breakout of the range:
- resistance level of 97.2- the lower border of the channel ISL38.2 equilibrium zone of the Minuette operational scale fork;
- support level of 96.90 - the upper border of channel 1/2 Median Line Minuette.
Breakdown of ISL38.2 Minuette - the resistance level of 97.20 - the development of the movement of the dollar index will occur in the equilibrium zone (97.20-97.70-98.20) of the Minuette operational scale forks with the prospect of reaching the initial SSL line (98.70) of the Minor operational scale forks and the final FSL Minute line (99.80).
If the support level of 96.90 breaks, the development of the #USDX movement will continue in the 1/2 Median Line channel (96.90-96.40-96.00) of the Minuette operational scale forks with the ability to update the local minimum of 95.72 and reach the initial SSL Minute line (95.50), as well as the upper limit of ISL38.2 (95.30) of the Minor operational scale forks.
The layout of the #USDX movement options from June 18, 2020 is shown on the animated chart.
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Euro vs US dollar
The single European currency EUR/USD from June 18, 2020 will continue to develop its movement depending on the development and direction of the breakdown of the range:
- resistance level of 1.1250 - upper limit of the channel 1/2 Median Line of the Minuette operational scale forks;
- support level of 1.1190 - 1/2 Median Line Minuette.
If the support level of 1.1290 is broken by 1/2 Median Line Minute followed by a break of the median line (1.1170) of the Minor operational scale forks and the lower border of the channel 1/2 Median Line Minute (1.1140), it will be possible for the single European currency to reach the boundaries of the equilibrium zone (1.1115-1.1020-1.0930) of the Minuette operational scale forks.
If the resistance level of 1.1250 is broken at the upper border of the channel 1/2 Median Line of the Minuette operational scale forks and the upper border of ISL61.8 (1.1280) of the balance zone of the Minor operational scale forks, the upward movement of EUR/USD can be resumed and it will be directed to the goals:
- final Shiff Line (1.1350) of the Minor operational scale fork;
- initial SSL line (1.1405) of the Minuette operational scale forks;
- local maximum 1.1422;
- control line UTL Minute (1.1470);
- with the prospect of updating the maximum of 1.1495.
The EUR/USD movement options from June 18, 2020 are shown on the animated chart.
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Great Britain pound vs US dollar
The development of the movement of Her Majesty's currency GBP/USD from June 18, 2020 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.2575-1.2510-1.2435) of the Minuette operational scale forks - details of movement inside the specified channel are shown on the animated chart.
The breakdown of the lower border of the channel 1/2 Median Line Minute - the support level of 1.2435 - will determine the further development of the GBP/USD movement already in the equilibrium zone (1.2435-1.2335-1.2230) of the Minuette operational scale forks with the prospect of reaching the final Shiff Line Minute (1.2170) and updating the local minimum of 1.2073.
If the resistance level of 1.2575 is broken at the upper border of the channel 1/2 Median Line of the Minuette operational scale forks, it will be possible to continue the upward movement of the currency of Her Majesty to the goals:
- lower bound of ISL38.2 (1.2640) of the Minor operational scale forks;
- initial SSL line (1.2765) of the Minuette operational scale forks;
- control line UTL Minute (1.2855);
- Median Line (1.2940) of the Minor operational scale forks;
- final Shiff Line Minor (1.2995).
From June 18, 2020, we look at the GBP/USD movement options on the animated chart.
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US dollar vs Japanese yen
Starting from June 18, 2020, the development of the USD/JPY currency movement of the "Land of the Rising Sun" will be determined by working out and the direction of breakdown of the borders of the equilibrium zone (106.45-107.10-107.55) of the Minuette operational scale forks - we look at the animated chart for details of the movement inside this equilibrium zone.
In the breakdown ISL61.8 Minute - resistance level of 107.55 - the development of the upward movement the USD/JPY may continue to order:
- Median Line (108.05) of the Minor operational scale forks;
- initial line SSL Minute (109.25);
- upper bound of ISL61.8 (109.45) equilibrium zone of the Minor operational scale forks;
- control line UTL Minute (110.00).
A breakout of the lower border ISL38.2 zone equilibrium of the Minuette operational scale forks - support level of 106.45 - will make the actual achievement currency "Land of the rising sun" borders of the channel 1/2 Median Line (106.00-104.70-103.40) of the Minor operational scale forks.
The marking of USD/JPY movement options since June 18, 2020 is 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).
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 sterling - 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.
