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Minuette operational scale (Daily time frame)
A new study of options for the development of the dollar index movement #USDX vs AUD/USD, USD/CAD, and NZD/USD on April 21, 2020.
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US dollar index
The development of the movement of the dollar index #USDX from April 21, 2020 will be determined depending on the development and direction of the breakdown of the range:
When the initial SSL line is broken, the Minuette operational scale fork - support level of 99.55 - option to continue the downward movement #USDX to the goals:
In the event of a breakdown of the resistance level of 99.90, the development of the #USDX movement will continue in the 1/2 Median Line Minuette channel (99.90-100.20-100.50) with the prospect of reaching the boundaries of the equilibrium zone (100.80-101.20-101.60) of the Minuette operational scale fork.
Details of the dollar index movement markup from April 21, 2020 are shown in the animated chart.
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Australian dollar vs US dollar
From April 21, 2020, the development of the movement of the Australian dollar AUD/USD will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (0.6345-0.6385-0.6425) of the Minuette operational scale forks - we look at the animated chart for movement details within this channel.
A consistent break of the upper border of the channel 1/2 Median Line of the Minuette operational scale forks - resistance level of 0.6425 and the initial line SSL Minuette (0.6446) will determine the continuation of the upward movement AUD/USD to the warning line UWL61.8 (0.6555) trading recommendations.
In case of a breakdown of the lower border of the channel 1/2 Median Line Minuette - the support level of 0.6345 - the downward movement of the Australian dollar will be directed to the equilibrium zone (0.6270-0.6215-0.6160) of the Minuette operational scale fork.
The markup of the AUD/USD movement options from April 21, 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 April 21, 2020 will depend on the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.3995-1.4045-1.4095) of the Minuette operational scale fork - details of working out these borders are shown on the animated graph.
The breakdown of the support level of 1.3995 at the lower border of the channel 1/2 Median Line of the Minuette operational scale fork will make the actual continuation of the downward movement of USD/CAD to a local minimum 1.3855 and the line of control LTL (1.3820) of the Minuette operational scale fork.
The breakdown of the upper border of the channel 1/2 Median Line of the Minuette operational scale fork - resistance level of 1.4095 - the development of the movement of the Canadian dollar within the boundaries of the equilibrium zones of the Minuette operational scale fork - Minute (1.4095-1.4250-1.4400) and Minuette (1.4300-1.4400-1.4500) will become possible.
The markup of the USD/CAD movement options from April 21, 2020 is 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 since April 21, 2020 will be dependent on the development and direction of a breakout of the range:
If the resistance level of 0.6080 on the starting line SSL fork operational scale Minuette will direct the development of the upward movement NZD/USD to targets:
If there is a breakdown of the support level of 0.6055, the development of the movement of NZD/USD will occur within the boundaries of the channel 1/2 Median Line Minuette (0.6055-0.6025-0.6000) with the prospect of reaching the equilibrium zone (0.5940-0.5895-0.5850) of the Minuette operational scale fork.
From April 21, 2020, we look at the layout of the NZD/USD movement options 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.
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