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Let's consider what will happen to commodity currency instruments from February 12, 2020. So, here's a comprehensive analysis of the development options for the movement #USDX vs AUD / USD vs USD / CAD vs NZD / USD.
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US dollar index
The movement of the #USDX dollar index from February 12, 2020 will be determined by developing and the direction of breakdown of the boundaries of the equilibrium zone (98.63 - 98.83 - 99.05) of the Minuette operational scale forks. We look at the movement markings inside this zone on the animated chart.
In case of breakdown of the lower boundary of ISL61.8 (support level of 98.63) of the equilibrium zone of the Minuette operational scale forks, it will lead to the development of the downward movement of the dollar index and be directed to the boundaries of the equilibrium zone (98.20 - 97.92 - 97.64) of the Minuette operational scale forks.
On the contrary, If the upper boundary of ISL61.8 (resistance level of 98.40) of the equilibrium zone of the Minuette operational scale forks and the final line FSL (resistance level of 99.12) of the Minuette operational scale forks are broken down, the upward movement #USDX can continue to the warning line UWL38.2 (99.60) of the Minuette operational scale forks and FSL Minuette end line (99.75).
The markup of #USDX movement options from February 12, 2020 is shown on the animated chart.
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Australian dollar vs US dollar
The development and direction of the breakdown of the boundaries of 1/2 Median Line channel (0.6699 - 0.6715 - 0.6731) of the Minuette operational scale forks will determine the development of the movement of the Australian dollar AUD / USD from February 12, 2020. The marking the development of the above levels are shown on the animated chart.
The breakdown of the upper boundary of the 1/2 Median Line Minuette channel - resistance level of 0.6731 will lead to the Australian dollar reaching the equilibrium zone (0.6739 - 0.6764 - 0.6787) of the Minuette operational scale forks with the prospect of further development of the AUD / USD movement in the 1/2 Median Line channel (0.6780 - 0.6830 - 0.9875) of the Minuette operational scale forks.
A sequential breakdown of the lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks - support level of 0.6699 and the 1/2 Median Line Minuette 0.6690 will determine the continuation of the development of the downward movement of the Australian dollar towards the goals:
- the initial SSL Minuette line (0.6655);
- control line LTL Minuette (0.6644);
- lower boundary ISL61.8 (0.6625) equilibrium zone of the Minuette operational scale forks;
with the prospect of reaching warning lines - LWL38.2 (0.6615) and LWL61.8 (0.6590) of the Minuette operational scale forks.
We look at the layout of the AUD / USD movement options from February 12, 2020 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 February 12, 2020 will continue to be determined by developing the boundaries of the equilibrium zone (1.3225 - 1.3276 -1.3333) of the Minuette operational scale forks. We look at the movement markings inside this zone on the animated chart.
The breakdown of the lower boundary of ISL38.2 (support level of 1.3225) of the equilibrium zone of the Minuette operational scale forks will continue the development of the downward movement of the Canadian dollar towards the goals:
- lower boundary of ISL61.8 (1.3200) equilibrium zones of the Minuette operational scale forks;
- final Schiff Line Minuette (1.3185);
with the prospect of reaching the final line of the FSL Minuette (1.3115).
On the other hand, a combined breakdown of the upper boundary of the ISL61.8 (resistance level of 1.3333) equilibrium zone of the Minuette operational scale forks and the control line UTL Minuette (1.3345) will make the achievement of USD / CAD warning lines - UWL23.6 (1.3365) - UWL38.2 (1.3390) - UWL61.8 (1.3410) and UWL100.0 (1.3455) of the Minuette operational scale forks, relevant.
We look at the markup of USD / CAD movement options from February 12, 2020 on the animated chart.
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New Zealand dollar vs US dollar
The development of the movement of the New Zealand dollar NZD / USD from February 12, 2020 will depend on the development and direction of the breakdown of the range :
In case of breakdown of the resistance level of 0.6390, the NZD / USD movement will continue in the 1/2 Median Line Minuette channel (0.6390 - 0.6460 - 0.6525), and if the upper boundary (0.6525) of this channel is broken, the price of the instrument will continue to move in the equilibrium zone (0.6525 - 0.6575 - 0.6622) of the Minuette operational scale forks.
Alternatively, in case that the breakdown of the support level of 0.6420 takes place on the control line of the LTL of the Minuette operational scale forks, then it will be relevant to reach the New Zealand dollar reaching the boundaries of the equilibrium zone (0.6350 - 0.6255 - 0.6155) of the Minuette operational scale forks.
We look at the layout of the NZD / USD movement options from February 12, 2020 on the animated chart.
The review is made without taking into account the news background. Thus, 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 starting date - March 1973, when the main currencies began to be freely quoted relative to each other.
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