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Let me bring to your attention a comprehensive analysis of the movement of currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY from September 10, 2019
Minuette (H4 time frame)
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US dollar index
The development of the movement of the dollar index #USDX on September 10, 2019 will continue to be determined by working out and the direction of breakdown of the boundary of the equilibrium zone (98.75 - 98.50 - 98.30) of the Minuette operational scale. The marking of the movement inside this zone is presented in the animated chart.
The breakdown of the lower boundary of ISL61.8 (support level of 98.30) the equilibrium zone of the Minuette operational scale fork with the subsequent breakdown of the support level of 98.20 - an option for the development of the movement of the dollar index in the 1/2 Median Line channel (98.20 - 97.85 - 97.52) of the Minuette operational scale fork with the prospect of reaching a local minimum of 97.21.
On the other hand, the breakdown of the resistance level of 98.30 (the upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale fork) will make it relevant to continue the development of the upward movement of #USDX to the boundaries of the 1/2 Median Line Minuette channel (99.10 - 99.25 - 99.40).
The details of the #USDX movement are presented in the animated chart.
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Euro vs US dollar
The movement of the single European currency EUR / USD on September 10, 2019 will be determined by the direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.1050 - 1.1025 - 1.1000) of the Minuette operational scale fork. Look at the animated chart for the details of this movement.
The breakdown of the resistance level of 1.1050 (the upper boundary of the 1/2 Median Line channel of the Minuette operational scale fork) - the movement of the single European currency will continue to the boundaries of the equilibrium zones of the Minuette operational scales fork (1.1065 - 1.1110 - 1.1150) and Minuette (1.1110 - 1.1160 - 1.1215).
In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.1000), the downward movement of EUR / USD will be directed to the targets - initial SSL (1.0950) of the Minuette operational scale fork - local minimum 1.0926.
The details of the EUR / USD movement options are shown in the animated chart.
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Great Britain pound vs US dollar
Range Breakdown Direction:
will begin to determine the development trend of Her Majesty's GBP / USD currency movement on September 10, 2019.
The breakdown of the UTL control line (resistance level of 1.2365) of the Minuette operational scale fork will determine the continued development of the upward GBP / USD to the final line FSL (1.2515) of the Minuette operational scale fork and warning line UWL38.2 Minuette (1.2625).
In the event of a sequential breakdown of the SSL initial line (support level of 1.2305) of the Minuette operational scale forks and ISL61.8 Minuette (1.2285), the development of Her Majesty's currency movement will continue in the equilibrium zone (1.2285 - 1.2210 - 1.2135) of the Minuette operational scale fork taking into account the working out of the boundaries of the 1/2 Median Line Minuette channel (1.2225 - 1.2180 - 1.2135) with a possible prospect of reaching the equilibrium zone (1.2110 - 1.2050 - 1.1990) of the Minuette operational scale fork.
The details of the GBP / USD movement can be seen in the animated chart.
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US dollar vs Japanese yen
Starting from September 10, 2019, the movement of the USD / JPY currency of the country of the rising sun will become determined by mining and the direction of the breakdown of the boundaries of the channel of the equilibrium zone (107.55 - 107.00 106.35) of the Minuette operational scale. The development options are shown in the animated chart.
In case of the breakdown of the support level of 106.35 (the lower boundary of the equilibrium zone ISL38.2 of the Minuette operational scale fork), it will determine the development of the currency of the "country of the rising sun" in the 1 / 2 Median Line Minuette channel (106.35 - 105.85 - 105.40) with the prospect of reaching the upper boundary of ISL38.2 (105.05) of the Minuette operational scale fork.
And if the breakdown of the upper boundary of ISL61.8 (resistance level of 107.55) of the equilibrium zone of the Minuette operational scale takes place, then it will be possible to continue the development of the upward movement of USD / JPY to the final Schiff Line Minuette (107.85), maximum of 109.33 and the final line FSL Minuette (109.40).
We look at the details of the USD / JPY movement in the animated chart
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The review is made without taking into account the news background. The opening of trading sessions of the main 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 power factors 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 start date of the countdown - March 1973, when the main currencies began to be freely quoted relative to each other.
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