11.05.202017:42 Forex-elemzések és áttekintések: Comprehensive analysis of movement options for #USDX vs AUD/USD, USD/CAD, and NZD/USD (Daily) on May 12, 2020

Minuette operational scale (H4)

The second week of May - "commodity" currencies #USDX vs AUD/USD, USD/CAD, and NZD/USD - development options for the movement on May 12, 2020.

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US dollar index

From May 12, 2020, the movement of the dollar index (#USDX) will be determined by the development and direction of the breakdown of the range:

• resistance level is 100.30 on the UTL control line of the Minuette operational scale fork;
• support level of 100.00 on the initial line of the SSL of the Minuette operational scale fork.

If the initial line of the SSL of the Minuette operational scale fork is broken, the Minuette - support level of 100.00 - the development of the dollar index movement will be directed to the borders of the 1/2 Median Line channel (99.50-99.30-99.00) and equilibrium zones (99.00-98.65-98.30) of the Minuette operational scale fork.

In turn, the break of the control line UTL of the Minuette operational scale fork - resistance level of 100.30 - and then updating the local maximum of 100.40 will determine the development of the movement #USDX to targets:

• initial line SSL Minute (100.60);
• local maximum 100.87;
• ultimate Shiff Line Minute (101.40);
• warning line UWL38. 2 Minute (102.20).

The layout of the #USDX movement options from May 12, 2020 is shown on the animated chart.

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Australian dollar vs US dollar

From May 12, 2020, the development of the movement of the Australian dollar (AUD/USD) will be determined by the development and direction of the breakdown of the range:

• resistance level is 0.6535 at the lower border of the channel 1/2 Median Line of the Minuette operational scale fork;
• support level of 0.6455 on the LTL control line of the Minuette operational scale fork.

The breakdown of the resistance level of 0.6535 will determine the development of the movement of the Australian dollar in the channel 1/2 Median Line Minuette (0.6535-0.6570-0.6995) when the upper limit is broken (0.6995), the upward movement of this currency instrument can be continued to the equilibrium zone (0.6640-0.6670-0.6700) of the Minuette operational scale fork with the prospect of reaching the final FSL Minuette line (0.6800).

In the case of breakdown of the control line LTL of the Minuette operational scale fork - support level of 0.6455 will become relevant to continue the downward movement of the AUD/USD to the local minimum's (0.6374-0.6255) and the upper boundary of the ISL61.8 (0.6130) equilibrium zone of the Minuette operational scale fork.

The markup of the AUD/USD movement options from May 12, 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 May 12, 2020 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.4015-1.3975-1.3925) of the Minuette operational scale fork - see the animated chart for the details of the movement inside this channel.

At the break of the support level of 1.3925 on the lower border of the channel 1/2, the Median Line Minuette will determine the further development of the movement of the Canadian dollar in the zone of equilibrium (1.3925-1.3865-1.3810) of the Minuette operational scale fork with the prospect of reaching the end Shiff Line Minuette (1.3785) and warning line LWL38.2 (1.3725) trading recommendations.

A breakdown of the resistance level of 1.4015 at the upper border of the 1/2 medium Line Minuette channel will make it possible to continue the upward movement of USD/CAD towards the targets:

• initial SSL line (1.4090) of the Minuette operational scale fork;
• local maximum's (1.4172 - 1.4264).

Options for the development of the USD/CAD movement from May 12, 2020 are shown 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 May 12, 2020 will also depend on the development and direction of the breakdown of the range:

• resistance level is 0.6100 at the lower border of the channel 1/2 Median Line of the Minuette operational scale fork;
• support level of 0.6050 on the initial line SSL of the Minuette operational scale fork.

When the resistance level of 0.6100 breaks down the development of the New Zealand dollar movement will continue in the 1/2 channel Median Line Minuette (0.6100-0.6125-0.6150) with the prospect of reaching the equilibrium zone (0.6165-0.6200-0.6240) of the Minuette operational scale fork.

Breakdown of the initial line of SSL of the Minuette operational scale fork - support level of 0.6050 - option to continue the downward movement of NZD/USD to the goals:

• upper bound of ISL61.8 (0.6029) balance zone of the Minuette operational scale fork;
• LTL Minuette control line (0.6015);
• local minimum 0.5992;
• Median Line Minuette (0.5900);
• final Shiff Line Minuette (0.5880).

From May 12, 2020, we look at the markup of the NZD/USD movement 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 starting date - March 1973 when the main currencies began to be freely quoted relative to each other.