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Minor operational scale (H4)
What is October preparing for us? A comprehensive analysis of the development of the movement AUD / USD vs USD / CAD vs NZD / USD vs #USDX on October 2019 at the Minor operational scale ( Daily timeframe ).
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US dollar Index
On October 2019, the development of the movement of the dollar index #USDX will be determined by the direction of the breakdown of the range :
In case of updating the local maximum 99.46, the upward movement of the dollar index can continue to the goals - control line UTL Minuette (99.65) - warning lines - UWL38.2 (99.85) - UWL61.8 (100.35) - UWL100.0 (101.15) of the Minuette operational scale fork.
On the contrary, if #USDX would be below the reference line UTL (support level of 99.10) Minor operational scale fork, then it will be possible to develop a downward movement of the instrument to the boundaries of the 1/2 Median Line Minuette channel (98.60 - 98.25 - 97.95) with a view to achieving SSL Minor initial line (97.65) and the upper boundary of ISL38.2 (97.35) of the equilibrium zone of the Minuette operational scale fork.
The markup of #USDX movement options on October 2019 is shown in the animated chart.
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Australian dollar vs US dollar
The development of the movement of the Australian dollar AUD / USD on October 2019 will also be determined by the direction of the breakdown of the range :
The breakdown of the final Shiff Line Minor (support level of 0.6720) - continued development of the downward movement of AUD / USD to the boundaries of the 1/2 Median Line Minuette channel (0.6700 - 0.6655 - 0.6610) with the prospect of reaching the boundaries of the equilibrium zone (0.6520 - 0.6440 - 0.6335) of the Minuette operational scale fork.
On the contrary, the breakdown of the resistance level of 0.6760 (the initial SSL line of the Minuette operational scale fork) - an option for the development of the upward movement of the Australian dollar to the targets - the control line UTL Minuette (0.6825) - local maximum 0.6896 - the lower boundary of the ISL38.2 (0.6950) equilibrium zone of the Minor operational scale fork - local maximum 0.7083.
We look at the layout of the AUD / USD movement options on October 2019 in the animated chart.
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New Zealand dollar vs US dollar
However, the development of the movement of the New Zealand dollar NZD / USD on October 2019 will be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (0.6280 - 0.6205 - 0.6120) of the Minor operational scale fork. We look at the animated chart for details of the movement inside this channel.
The breakdown of the lower boundary of the 1/2 Median Line Minor channel (support level of 0.6120) will direct the movement of NZD / USD to the upper boundary of ISL38.2 (0.5910) of the equilibrium zone of the Minor operational scale fork.
If the New Zealand dollar returns above the upper boundary of the 1/2 Median Line Minor channel (resistance level of 0.6280) and the breakdown of the warning line UWL38.2 (0.6320) of the Minor operational scale fork, it will be possible for the NZD / USD to reach the boundaries of the 1/2 Median Line channel (0.6370 - 0.6420 - 0.6475) and equilibrium zones (0.6495 - 0.6565 - 0.6630) of the Minuette operational scale fork.
We look at the layout of the NZD / USD movement options on October 2019 in the animated chart.
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US dollar vs Canadian dollar
Similarly, the development of the movement of the Canadian dollar USD / CAD on October 2019 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.3265 - 1.3195 - 1.3125) of the Minor operational scale fork. The movement markings inside this channel are presented in the animated chart.
If the upper boundary of the 1/2 Median Line channel (resistance level of 1.3265) is broken, the upward movement of the Canadian dollar can be continued towards the targets - control line UTL (1.3320) of the Minuette operational scale fork - warning line UWL61.8 Minor (1.3382) - control line UTL Minor (1.3480).
In case of breakdown of the lower boundary of the 1/2 Median Line channel (1.3125) of the Minor operational scale fork, the development of the USD / CAD movement will continue in the 1/2 Median Line Minuette channel (1.3150 - 1.3090 - 1.3040) with the prospect of reaching the upper boundary of ISL38.2 (1.2980) of the Minuette operational scale fork.
We look at the layout of the USD / CAD movement options on October 2019 in the animated chart.
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The review is made without taking into account the news background. Thus, 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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