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Minute operational scale (H4)
The beginning of autumn - will the dominance of commodities over the US dollar continue? Overview of options for the development of movement of AUD/USD & USD/CAD & NZD/USD (H4) on September 1, 2020.
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Australian dollar vs US dollar
From September 1, 2020, the development of the movement of the Australian dollar (AUD/USD) will be determined by the development and direction of the range breakdown:
The breakdown of the support level at 0.7330 will determine the movement of AUD/USD in the channel 1/2 Median Line Minuette (0.7330 - 0.7315 - 0.7295) with the prospect. After the breakdown of the support level of 0.7295, the price of the instrument will reach the equilibrium zone boundaries (0.7270 - 0.7235 - 0.7205) of the Minuette operational scale fork and 1/2 Median Line (0.7205 - 0.7170 - 0.7137) of the Minute operational scale fork.
If the resistance level of 0.7375 at the initial line SSL of the Minuette operational scale fork and update the local maximum 0.7382 will make the actual continuation of the upward movement of the Australian dollar to the line of control UTL Minuette (0.7395) and warning line UWL61.8 (0.7445) of the Minute operational scale fork.
The markup of AUD/USD movement options from September 1, 2020 is shown on the animated chart.
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US dollar vs Canadian dollar
The development of the movement of the Canadian dollar (USD/CAD) from September 1, 2020 will occur depending on the development and direction of the breakdown of the range:
In case of a breakdown of the resistance level of 1.3070, the USD/CAD movement will continue in the 1/2 Median Line Minuette channel (1.3070 - 1.3080 - 1.3090). In the event of a breakdown of the upper border (1.3090) of this channel, the upward movement can be continued to the initial line SSL (1.3110) of the Minute operational scale fork and the boundaries of the equilibrium zone (1.3130 - 1.3155 - 1.3180) of the Minuette operational scale fork.
In case of a breakdown of the support level of 1.3050 on the initial SSL line of the Minuette operational scale fork and updating the local minimum 1.3044, the downward movement of the Canadian dollar will be directed to the targets:
Options for USD/CAD movement from September 1, 2020 are shown on the animated chart.
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New Zealand dollar vs US dollar
Working out and direction of the range breakdown:
Breakdown of ISL61.8 Minute - support level 0.6725 - return of the development of the NZD/USD movement within the equilibrium zone (0.6725 - 0.6690 - 0.6655) of the Minute operational scale fork, and upon breakdown of ISL38.2 Minute (0.6655), the downward movement of this instrument will continue to the equilibrium zone (0.6625 - 0.6585 - 0.6545) of the Minuette operational scale fork.
Consecutive breakdown of resistance levels:
Options for the movement of NZD/USD from September 1, 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).
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