Comprehensive analysis of movement options for #USDX vs EUR/USD, GBP/USD, and USD/JPY (H4) on April 30, 2020

Trading 29 avr 2020 Donner votre avis

Minuette operational scale (H4)

Continuation of the dollar's fall? Options for the development of the movement of major currency instruments #USDX vs EUR/USD, GBP/USD, and USD/JPY from April 30, 2020 in a complex form.

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US dollar index

The development of the movement of the dollar index #USDX from April 30, 2020 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (99.55-99.80-100.05) of the Minuette operational scale - we look at the marking details on the animated chart.

Breakdown of the lower border of the channel 1/2 Median Line Minuette - support level of 99.55 - a continuation of the downward movement of the dollar index to the equilibrium zone (99.30-98.95-98.60) of the Minuette operational scale fork.

Breakdown of the upper border of the channel 1/2 Median Line Minuette - resistance level of 100.05 - development option of the upward movement #USDX to the targets:

  • UTL control line (100.87) of the Minuette operational scale forks;
  • local maximum 100.93.
  • FSL end line (101.10) of the Minuette operational scale fork.

Details of the dollar index movement markup from April 20, 2020 are shown on the animated chart.

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Euro vs US dollar

The development of the movement of the single European currency EUR/USD from April 30, 2020 will be determined by the development and direction of the breakdown of the range:

  • resistance level of 1.0870 - the upper limit of the channel 1/2 Median Line Minuette;
  • support level of 1.0850 - 1/2 Median Line Minuette.

In case of breakdown of the upper border of the channel 1/2 Median Line Minuette - resistance level of 1.0870 - an option to achieve a single European currency of the borders of the equilibrium zone (1.0885-1.0930-1.0970) of the Minuette operational scale forks with the prospect of updating the local maximum of 1.0990.

With a joint breakdown of 1/2 Median Line Minute - the support level (B) 1.0850/B) - and 1/2 Median Line Minuette (1.0840), it will be possible to develop a downward movement of EUR/USD towards the goals:

  • lower border of the channel 1/2 Median Line Minuette (1.0810);
  • initial SSL line (1.0768) of the Minuette operational scale fork;
  • ultimate Shiff Line Minute (1.0755 during Asian trading session);
  • local minimum 1.0727.

Details of the EUR/USD movement options are shown on the animated chart.

analytics5ea9abfc33c45.jpg

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Great Britain pound vs US dollar

The movement of the currency of Her Majesty GBP/USD from April 30, 2020, will also be due to the development and direction of the breakdown of the range:

  • resistance level of 1.2480 - starting line SSL of the Minuette operational scale forks;
  • support level of 1.2420 - control line UTL of the Minuette operational scale fork.

The breakdown of the initial line SSL of the Minuette operational scale fork - resistance level of 1.2480 - together with the control line UTL Minuette (1.2505) make urgent continuation of the upward movement of the currency of Her Majesty for the purposes:

  • warning lines UWL38.2 (1.2555) - UWL61.8 (1.2605) of the Minuette operational scale forks;
  • local maximum 1.2646;
  • warning line UWL100.0 Minuette (1.2680).

Breakdown of the control line LTL of the Minuette operational scale fork - support level of 1.2420 - an option to reach the GBP/USD borders of the channel 1/2 Median Line (1.2375-1.2335-1.2295) and the equilibrium zone (1.2295-1.2246-1.2180) of the Minuette operational scale fork.

Details of the movement of GBP/USD can be seen on the animated chart.

analytics5ea9ac15686db.jpg

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US dollar vs Japanese yen

The currency movement of the "Land of the Rising Sun" USD/JPY from April 30, 2020 will also be determined by mining and the direction of the breakdown of the range:

  • resistance level of 106.80 - control line UTL of the Minuette operational scale fork;
  • support level of 106.30 - upper limit of the channel 1/2 Median Line Minuette.

In case of breakdown of the support level of 106.30, the development of the currency of the "Land of the Rising Sun" will continue in the 1/2 Median Line Minuette channel (106.30-106.10-105.90), and if you happen to have a joint breakdown of the lower border of the channel 1/2ML Minuette (105.90) and a 1/2 Median Line Minute (105.75), then the downward movement of this financial instrument can be continued to the zone equilibrium (105.25-105.00-104.80) of the Minuette operational scale fork.

And if there is a breakdown of the UTL control line of the Minuette operational scale fork - the resistance level of 106.80 - then the development of the upward movement of USD/JPY can be continued to the goals:

  • upper bound of the channel 1/2 Median Line Minute (107.05);
  • warning line UWL61. 8 (107.50) operating scale fork Minute;
  • local maximum 108.10.

Details of the movement of USD/JPY are shown on the animated chart.

analytics5ea9ac2eb9498.jpg

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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).

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 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.

The material has been provided by InstaForex Company - www.instaforex.com

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