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Let me bring to your attention a comprehensive analysis of the movement of currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY from September 5, 2019.
Minuette (H4 time frame)
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US dollar index
The development of the #USDX dollar index movement from September 5, 2019 will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (98.70 - 98.50 - 98.30) of the Minuette operational scale. The marking on the movement inside this zone is presented in the animated chart.
In case of the breakdown of the upper boundary of ISL38.2 (resistance level of 98.70) of the equilibrium zone of the Minuette operational scale fork, the development of the dollar index movement will be directed to the boundaries of the 1/2 Median Line Minuette channel (98.80 - 98.95 - 99.10), and if the upper boundary (99.20) of this channel is broken, the upward movement #USDX can continue to the targets - control line UTL (99.20) Minuette operational scale fork - the initial line SSL Minuette (99.37).
The breakdown of the support level of 98.30 (lower boundary of the ISL61.8 equilibrium zone of the Minuette operational scale fork) together with the SSL start line (98.25) of the Minuette operational scale will make it relevant to reach the boundaries of the 1/2 Median Line channel (98.15 - 97.85 - 97.50) of the Minuette operational scale fork.
The details of the #USDX movement are presented in the animated chart.
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Euro vs US dollar
The movement of the single European currency EUR / USD from September 5, 2019 will also be determined by the mining and direction of the breakdown of the boundaries of the equilibrium zone (1.1065 - 1.1037 - 1.1010) of the Minuette operational scale. The details of this movement are presented in the animated chart.
The breakdown of the resistance level of 1.1065 (the upper boundary of ISL61.8 is the equilibrium zone of the Minuette operational scale fork) - the continuation of the development of the upward movement of EUR / USD to the start line SSL (1.1105) of the Minuette operational scale fork and the boundaries of the 1/2 Median Line Minuette channel (1.1120 - 1.1160 - 1.1200).
In case of breakdown of the lower boundary of ISL38.2 (support level of 1.1010) of the equilibrium zone of the Minuette operational scale fork, the downward movement of the single European currency can be continued towards the targets - control line LTL (1.0990) of the Minuette operational scale fork - 1/2 Median Line Minuette channel (1.0970 - 1.0955 - 1.0940) - minimum 1.0925 - control line LTL Minuette (1.0890).
The details of the EUR / USD movement options are shown in the animated chart.
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Great Britain pound vs US dollar
As with previous currency instruments, the development of Her Majesty's GBP / USD currency movement from September 5, 2019 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (1.2210 - 1.2170 - 1.2120) of the Minuette operational scale fork. We look at the details of the movement inside this equilibrium zone on the animated graph.
The breakdown of the resistance level of 1.2210 will make it relevant to reach the Median Line (1.223 ) of the Minuette operational scale fork, and if the breakdown occurs, then the upward movement of Her Majesty's currency can be continued towards the targets - the final Schiff Line Minuette (1.2285) - the upper boundary of the ISL61.8 (1.2300) equilibrium zone of the Minuette operational scale fork - the local maximum 1.2309 - the final line FSL Minuette (1.2370).
If the lower boundary of ISL38.2 (support level of 1.2120) of the equilibrium zone of the Minuette operational scale fork is broken, then the downward movement of GBP / USD can be continued to the targets - the lower boundary of the 1/2 Median Line Minuette channel (1.2075) - 1/2 Median Line channel (1.1985 - 1.1945 - 1.1900) of the Minuette operational scale fork.
The details of the GBP / USD movement can be seen in the animated chart.
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US dollar vs Japanese yen
On the other hand, the development of the USD / JPY currency movement of the "country of the rising sun" on September 5, 2019 will be due to the development and direction of the breakdown of the boundaries of 1/2 Median Line channel (106.80 - 106.35 - 105.95) of the Minuette operational scale fork. The development options are shown in the animated chart.
In case of breakdown of the support level of 105.95 (the lower boundary of the 1/2 Median Line Minuette channel), the USD / JPY movement will be directed to the equilibrium zones of the Minuette operational scales fork (105.80 - 105.55 - 105.25) and Minuette (105.65 - 105.05 - 104.50).
The breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 106.80) of the Minuette operational scale fork will make it possible for the currency of the "land of the rising sun" to reach the SSL Minuette start line (107.35).
We look at the details of the USD / JPY movement in the animated chart.
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The review is made 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 relative to each other.
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