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Let me bring to your attention, in an integrated form, the development options for the movement of currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY from September 26, 2019.
Minuette operational scale (H4 time frame)
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US dollar index
Further development of the movement of the dollar index #USDX from September 26, 2019 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (99.00 - 98.80 - 98.60) of the Minuete operational scale fork. Look at the animated chart for the development of the above levels.
The breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 99.00) of the Minuette operational scale fork will determine the option to continue the development of the upward movement of the dollar index to targets - warning line UWL38.2 Minuette (99.15) - local maximum 99.37 - warning line UWL61.8 Minuette (99.52).
On the contrary, if there is a breakdown of support level 98.60 on the lower boundary of the 1/2 Median Line channel of the Minuette operational scale fork, then the downward movement #USDX will be directed to the boundaries of the 1/2 Median Line channel ( 98.30 - 98.20 - 98.05) of the Minuette operational scale fork with the prospect of reaching the final Schiff Line Minuette (97.90).
The details of the #USDX movement are presented in the animated chart.
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Euro vs US dollar
Starting from September 26, 2019, the movement of the single European currency EUR / USD will also be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.1000 - 1.0970 - 1.0945) of the Minuette operational scale fork. The movement markings inside the mentioned channel are shown in the animated chart.
In case of breakdown of the lower boundary of the 1/2 Median Line channel (support level of 1.0945) of the Minuette operational scale fork, the downward movement of the single European currency can be continued towards the targets - local minimum 1.0927 - warning line LWL61.8 Minuette (1.0880).
A combined breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 1.1000) and the initial SSL line (1.1005) of the Minuette operational scale fork will make the development of the upward movement of EUR / USD to the boundaries of the 1/2 Median Line channel (1.1050 - 1.1070 - 1.1095) of the Minuette operating scale, relevant
The details of the EUR / USD movement options are shown in the animated chart.
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Great Britain pound vs US dollar
Meanwhile, the development of Her Majesty's GBP / USD currency movement from September 26, 2019 will also be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.2480 - 1.2420 - 1.2375) of the Minuette operational scale fork - the traffic markings in the 1/2 Median Line channel are presented in the animated graphics.
In case of breakdown of the support level of 1.2375 on the lower boundary of the 1/2 Median Line Minuette channel, Her Majesty's currency movement will continue to the equilibrium zone (1.2315 - 1.2240 - 1.2160) of the Minuette operational scale fork.
On the contrary, in case of breakdown of the upper boundary of the 1/2 Median Line channel (1.2480) of the Minuette operational scale fork, the GBP / USD movement will continue in the equilibrium zone (1.2420 - 1.2570 - 1.2715) of the Minuette operational scale fork taking into account the development - of the Median Line Minuette (1.2570) - local maximum 1.2582 - control line UTL Minuette (1.2650) and warning line UWL38.2 Minuette (1.2695).
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 26, 2019, the movement of the currency of the "land of the rising sun" USD / JPY will also depend on the development and direction of the breakdown of the 1/2 Median Line channel (107.60 - 107.30 - 106.90) of the Minuette operational scale fork. Look at the animated chart for the details of the movement.
The breakdown of the upper boundary of the 1/2 Median Line Minuette channel (resistance level of 107.60) will determine the continued development of the upward movement of the currency of the "country of the rising sun" to the initial SSL line (108.30) of the Minuette operational scale forks with the prospect of updating the local maximum of 108.48 and reaching the UTL Minuette control line (108.80).
The breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 106.90) - an option for the development of the USD / JPY movement towards the targets - the upper boundary of the ISL38.2 (106.60) equilibrium zone of the Minuette operational scale fork - the lower boundary of the ISL38.2 (106.40) equilibrium zone of the Minuette operational scale fork - 1/2 Median line Minuette (106.00).
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. 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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