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Let's see what the movement of the trading instruments EUR / USD, GBP / USD and USD / JPY , which have a specific gravity in calculating the dollar index #USDX 83.1%, will start from August 15, 2019.
Minuette operational scale (H4 time frame)
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US dollar index
The development and direction of the breakdown of the boundaries of 1/2 Median Line channel (98.00 - 97.65 - 97.30) of the Minuette operational scale fork will determine the development of the movement of the dollar index #USDX from August 15, 2019. We look at the animated chart for the details of the movement inside this channel.
A combined breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 97.30) and ISL38.2 Minuette (support level of 97.21) will determine the development of the movement of the dollar index in the equilibrium zone (97.21 - 96.75 - 96.30) of the Minuette operational scale fork.
In the event of a breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 98.00), the Minuette operational scle pitchfork will make the development of the upward movement #USDX to the SSL start line (98.15) of the Minuette operational scale fork and the 1/2 Median Line Minuette channel boundaries (98.25 - 98.45 - 98.70).
The details of the #USDX movement are presented in the animated chart.
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Euro vs US dollar
The development of the single European currency EUR / USD from August 15, 2019 will also be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.1150 - 1.1185 - 1.1225) of the Minuette operational scale fork. The details of the movement inside the 1/2 Median Line Minuette channel are shown in the animated graphics.
The breakdown of the upper boundary of the 1/2 Median Line Minuette channel (resistance level of 1.1225) will determine the development of the movement of the single European currency to the boundaries of the equilibrium zone (1.1235 - 1.1295 - 1.1350) of the Minuette operational scale fork.
The breakdown of the support level of 1.1140 (the lower boundary of the 1/2 Median Line Minuette channel) will direct the development of the EUR / USD movement to the goals - 1/2 Median Line Minuette (1.1125) - the lower boundary of the 1/2 Median Line Minuette channel (1.1095) - the equilibrium zone (1.1090 - 1.1060 - 1.1027) of the Minuette operational scale fork.
The details of the EUR / USD movement options are shown in the animated chart.
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Great Britain pound vs US dollar
The development of Her Majesty's GBP / USD currency movement from August 15, 2019 will be due to the development and direction of the breakdown of the 1/2 Median Line channel boundaries (1.2050 - 1.2070 - 1.2090) of the Minuette operational scale fork. We look at the animated chart for movement options within the specified channel.
In case of breakdown of the resistance level of 1.2090, the development of Her Majesty's Currency movement will continue to the equilibrium zone (1.2125 - 1.2150 - 1.2180) of the Minuette operational scale fork with the prospect, after the breakdown of ISL61.8 Minuette (1.2180), to reach the local maximum 1.1221.
In the case of a combined breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.2050) and the initial SSL line (1.2040) of the Minuette operational scale fork, the downward movement of GBP / USD can be continued to the targets - minimum 1.2016 - LTL Minuette control line (1.1985) - control line LTL Minuette (1.1950).
The details of the GBP / USD movement can be seen on the animated chart.
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US dollar vs Japanese yen
Further development of the USD / JPY currency movement of the "country of the rising sun" from August 15, 2019 will depend on the development and direction of the breakdown of the boundaries of the equilibrium zone (106.80 - 106.25 - 105.76) of the Minuette operational scale fork. The movement inside the equilibrium zone is marked on the animation chart.
The breakdown of the support level of 105.79 at the lower boundary of the ISL61.8 equilibrium zone of the Minuette operational scale fork will make it relevant to continue the development of the downward movement of USD / JPY to the targets - the final Schiff Line Minuette (105.20) - minimum 105.06 - the control line LTL (104.75) of the Minuette operational scale fork - end line FSL Minuette (103.95).
In case of breakdown of the upper boundary of ISL38.2 (resistance level of 106.80) of the equilibrium zone of the Minuette operational scale fork, the development of the USD / JPY movement will continue in the equilibrium zone (106.65 - 107.20 - 107.70) of the Minuette operational scale fork.
We look at the details of the USD / JPY movement on 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 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 start date of the countdown - March 1973, when the main currencies began to be freely quoted relative to each other.
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