Minor (H4)
Let us consider the comprehensive analysis of the development options for the movement of the currency instruments AUD / USD vs USD / CAD vs NZD / USD vs #USDX from August 19, 2019 on the Minor operational scale (daily timeframe)
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US Dollar Index
From August 19, 2019, the development of the movement of the dollar index #USDX will be determined by working out and the direction of the breakdown of the range:
- resistance level - local maximum of 98.34;
- support level of 97.95 (upper boundary of the 1/2 Median Line channel Minuette operational scale fork)
The breakdown of the support level of 97.95 is an option for the development of the #USDX movement in 1/2 Median Line Minuette channel (97.95 - 97.65 - 97.35), and when the breakdown of the lower boundary (97.35) of this channel occurs, then the downward movement of the dollar index can continue to the equilibrium zone (97.05 - 96.60 - 96.10) Minuette operational scale fork.
Updating the local maximum of 98.34 will make the development of the upward movement #USDX to the goals relevant - the initial SSL line (98.60) of the Minuette operational scale fork - the UTL control line (98.83) of the Minor operational scale fork - control line UTL Minuette (99.05) - warning lines UWL38.2 Minuette (99.25) - warning lines UWL61.8 Minuette (99.65).
The markup of #USDX motion options from August 19, 2019 is shown in the animated chart.
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Australian dollar vs US dollar
The development of the movement of the Australian dollar/US dollar (AUD / USD) from August 19, 2019 will also be due to the development and direction of the breakdown of the range :
- resistance level of 0.6785 (lower boundary of the 1/2 Median line Minuette channel);
- support level of 0.6755 (control line LTL Minor operating scale fork)
The breakdown of the resistance level of 0.6785 will make it possible to develop the movement of the Australian dollar within the boundaries of the 1/2 Median Line channel (0.6785 - 0.6815 - 0.6855) and the equilibrium zone (0.6855 - 0.6910 - 0.6960) of the Minuette operational scale fork with the prospect of reaching the lower boundary of the 1/2 Median Line channel (0.7010) Minor operating scale fork.
In case of the breakdown of the LTL control line (support level of 0.6755) of the Minor operational scale forks, the downward movement of AUD / USD can continue to the targets - the initial SSL line (0.6695) of the Minuette operational scale forks -minimum 0.6677 - control line LTL Minuette (0.6640) - warning line LWL38.2 Minor (0.6585).
From August 19, 2019, we look at the layout of the AUD / USD movement options on the animated chart.
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New Zealand dollar vs US dollar
Similarly with the previous currency instruments, the movement of the New Zealand dollar/US dollar (NZD / USD) from August 19, 2019 will also be due to the development and direction of the breakdown of the range :
- resistance level of 0.6425 (control line LTL Minor operating scale fork);
- support level of 0.6400 (initial SSL line)
The breakdown of the resistance level of 0.6425 (control line LTL of the Minor operational scale fork); will continue the development of the upward movement of NZD / USD to the boundaries of the 1/2 Median Line channel (0.6490 - 0.6535 - 0.6580) and the equilibrium zone (0.6580 - 0.6640 - 0.6700) of the Minuette operational scale fork.
On the other hand, the breakdown of the initial SSL line (support level of 0.6400) of the Minuette operational scale fork will determine the option to continue the downward movement of the New Zealand dollar to the targets - minimum 0.6375 - LTL control line Minute (0.6350) - warning line LWL38.2 (0.6310) Minor operational scale fork.
From August 19, 2019, we look at the markup of the NZD / USD movement options in the animated chart.
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US dollar vs Canadian dollar
The development of the movement of the US dollar/ Canadian dollar (USD / CAD) from August 19, 2019 will be determined by working out and the direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.3335 - 1.3270 - 1.3210) of the Minuette operational scale fork. The details of the movement inside this channel are shown on the animated chart. .
The breakdown of the lower boundary of the 1/2 Median Line channel (support level of 1.3210) of the Minuette operational scale fork will make it possible to continue the downward movement of the Canadian dollar to the targets - the lower boundary of the 1/2 Median Line channel (1.3155) of the Minor operational scale fork - the initial SSL Minuette line (1.3070) with the prospect of updating the local minimum 1.3015.
As a result of the breakdown of the resistance level of 1.3335 (the upper boundary of the 1/2 Median Line channel of the Minuette operational scale fork), it will be possible to continue the movement of USD / CAD in the equilibrium zone (1.3295 - 1.3380 - 1.3455) of the Minuette operational scale fork.
From August 19, 2019, we look at the markup of the USD / CAD movement options in the animated chart.
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The review was compiled without taking into account the news background. 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 start date of the countdown - March 1973, when the main currencies began to be freely quoted against each other.
