15.04.202019:02 Forex Analysis & Reviews: Comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) on April 16, 2020

Minuette operational scale (H4)

Options for the development of the movement of major currency instruments #USDX vs EUR/USD vs GBP/USD vs USD/JPY in a complex form.

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US dollar index

From April 16, 2020, the development of the movement of the dollar index #USDX will be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (99.75-100.00-100.30) of the Minuette operational scale forks - look at the markup details on the animated chart.

When the lower border of the channel is broken 1/2 Median Line Minuette - support level of 99.75 - option to resume the downward movement of the dollar index to the goals:

• initial SSL line (99.05) of the Minuette operational scale fork;
• LTL Minuette control line (98.82);
• the ultimate Shiff Line Minute (98.65);
• upper bound of ISL38.2 (98.30) of the equilibrium zone of the Minuette operational scale fork.

Break of the upper border of the channel 1/2 Median Line Minute - resistance level of 100.30 - confirm the further development of the movement #USDX in the zone of equilibrium (100.15-100.55-101.00) of the Minuette operational scale fork with the prospect of reaching the lower boundary (101.35) channel 1/2 Median Line of the Minuette operational scale fork.

Details of the dollar index movement markup from April 16, 2020 are shown in the animated chart.

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Euro vs US dollar

The single European currency EUR/USD will continue to develop its movement from April 16, 2020, depending on the direction of the range breakdown:

• resistance level of 1.0920 at 1/2 Median Line Minute
• support level of 1.0865 at the upper border of the channel 1/2 Median Line Minuette

A breakout of 1/2 Median Line Minute - the resistance level of 1.0920 - will direct the movement of the single European currency to the resistance levels:

• 1.0945 - SSL Minute start line;
• 1.0975 - UTL Minuette control line;
• 1.0990 - local maximum;
• 1.1010 - upper limit of the channel 1/2 Median Line Minute;

With the prospect of reaching a maximum of 1.1147.

The breakdown of the support level of 1.0865 will make the development of the EUR/USD movement within the 1/2 Median Line channel relevant (1.0865-1.0825-1.0785) and equilibrium zones (1.0805-1.0750 - 1.0695) of the Minuette operational scale fork with the prospect of reaching the final Shiff Line Minuette (1.0670) and a minimum of 1.0636.

Details of the EUR/USD movement options are shown on the animated chart.

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Great Britain pound vs US dollar

From April 16, 2020, Her Majesty's currency GBP/USD will continue to move depending on the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.2425-1.2464 - 1.2510) of the Minuette operational scale fork - the markup of movement inside this channel is shown on an animated chart.

Breakdown of the upper border of the channel 1/2 Median Line of the Minuette operational scale fork - resistance level of 1.2510 - continued development of the upward movement of Her Majesty's currency to the goals:

• the initial line SSL Minuette (1.2646);
• the control line UTL Minuette (1.2670);
• Median Line Minute (1.2715);

With the prospect of reaching the upper limit of ISL61.8 (1.3000) equilibrium zone of the Minuette operational scale fork.

In the case of a breakdown of the lower border of the channel 1/2 Median Line Minuette - the support level of 1.2425 will be confirmed that further development of the GBP/USD movement will occur in the equilibrium zone (1.2425-1.2370-1.2305) of the Minuette operational scale fork with the prospect of reaching 1/2 Median Line Minute (1.2250) and local minimum 1.2165.

Details of the movement of GBP/USD can be seen on the animated chart.

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US dollar vs Japanese yen

Range breakdown direction:

• resistance level is 107.90 at the lower border of the channel 1/2 Median Line Minuette;
• support level of 107.50 at the border of the red zone of the Minuette operational scale fork

And it will determine the further development of the movement of the currency of the "Land of the Rising Sun" USD/JPY from April 16, 2020.

The return of the currency of the "Land of the Rising Sun" to the red zone of the Minuette operational scale fork - a breakdown of the support level of 107.50 - the resumption of the downward movement of this instrument to the goals:

• the upper boundary of the channel 1/2 Median Line Minute (107.20);
• control line LTL Minuette (106.91);
• Starting line SSL Minuette (106.25);
• 1/2 Median Line Minute (106.00).

When the resistance level breaks 107.90 - a variant of the USD/JPY movement development in the channel 1/2 Median Line Minuette (107.90-108.20-108.50) with the prospect (after breaking the upper limit of this channel - 108.50) of reaching the boundaries of the equilibrium zone (108.70-109.20-109.70) of the Minuette operational scale fork.

Details of the USD/JPY movement 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).

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 - 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 start date of the reference – March 1973, when the main currencies began to be freely quoted relative to each other.