Comprehensive analysis of movement options for #USDX vs EUR/USD vs GBP/USD vs USD/JPY (DAILY) on February 10

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Here's a variation of movement of the main currency instruments - #USDX, EUR / USD, GBP / USD and USD / JPY - DAILY in a comprehensive form from February 10, 2020

Minor (daily time frame)

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US dollar index

The US dollar index #USDX will determine the development of its movement from February 10, 2020, depending on the breakdown direction of a fairly narrow range :

- resistance level of 98.75 - lower boundary of the ISL38.2 equilibrium zone of the Minor operational scale forks;

- support level of 98.65 - the upper boundary of the 1/2 Median Line Minor channel.

The breakdown of ISL38.2 Minor - resistance level of 98.75 - will make the development of #USDX movement in the equilibrium zone (98.75 - 99.40 - 100.00) of the Minor operational scale forks relevant.

The breakdown of support level 98.65 - the development of the dollar index movement will continue within the 1/2 Median Line channel (98.65 - 98.25 - 97.85)of the Minor operational scale forks and the equilibrium zone (98.20 - 97.95 - 97.65) of the Minuette operational scale forks.

The markup of #USDX movement options from February 10, 2020 is shown on the animated chart.

analytics5e416bf9a164b.jpg

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Euro vs US dollar

The development of the single European currency EUR/USD from February 10, 2020 will be determined by the development and direction of the breakdown of the channel boundaries 1/2 Median Line (1.0900 - 1.0950 - 1.1000) of the Minor operational scale forks. We look at the animated chart for the details.

The breakdown of the support level of 1.0900 on the lower boundary of the 1/2 Median Line Minor channel and the update of minimum 1.0879 will confirm the continuation of the downward movement of the single European currency to the warning line LWL38.2 (1.0755) of the Minor operational scale forks.

On the other hand, in case of breakdown of the resistance level of 1.1000 (upper boundary of the 1/2 Median Line Minor channel), the development of the EUR / USD movement will continue in the equilibrium zone (1.1000 - 1.1035 - 1.1070) of the Minuette operational scale forks with the prospect of reaching the boundaries of the 1/2 Median Line Minuette channel (1.1130 - 1.1155 - 1.1188).

The details of the EUR / USD movement options from February 10, 2020 are shown on the animated chart.

analytics5e416c183e591.jpg

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Great Britain pound vs US dollar

The development of Her Majesty's GBP/USD currency movement from February 10, 2020 will continue depending on the breakdown direction of the range :

  • resistance level 1of .2965 (the upper boundary of the 1/2 Median Line channel of the Minuette operational scale forks);
  • support level of 1.2870 (the lower boundary of the 1/2 Median Line Minor channel).

In case of breakdown of the lower boundary of the 1/2 Median Line channel (1.2870) of the Minor operational scale forks, the downward movement of Her Majesty's currency can continue to 1/2 of the Median Line Minuette (1.2790), and in case of breakdown it will become possible to reach GBP / USD boundaries of the equilibrium zone (1.2645 - 1.2420 - 1.2200) of the Minuette operational scale forks.

On the contrary, in case of breakdown of the upper boundary of the 1/2 Median Line Minuette channel (1.2965), the development of GBP / USD movement in the 1/2 Median Line channel (1.2870 - 1.3150 - 1.3435) of the Minor operational scale forks will be confirmed.

The details of the GBP / USD movement options from February 10, 2020 are shown on the animated chart.

analytics5e416c378f372.jpg

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US dollar vs Japanese yen

The development of the currency movement of the "country of the rising sun" USD / JPY and from February 10, 2020 will be determined by the development and the direction of the breakdown of the range :

  • resistance level of 109.90 (start line SSL of the Minuette operational scale forks);
  • support level of 109.05 (reaction line RL38.2 Minuette).

The breakdown of the initial SSL Minuette line - resistance level of 109.90 - will lead to the continuation of the development of the upward movement of USD / JPY to the control line UTL (110.50) of the Minuette operational scale forks with the prospect of reaching the boundaries of the equilibrium zone (111.65 - 113.00 - 114.20) of the Minor operational scale forks.

Successive breakdown of support levels :

- 108.50 - reaction line RL38.2 Minute;

- 109.55 - the upper boundary of the 1/2 Median Line Minor channel;

will make it possible for the currency of the "land of the rising sun" to continue to develop in the 1/2 Median Line channel (108.70 - 107.75 - 106.90) of the Minor operational scale forks with the prospect of reaching the upper boundary of ISL38.2 (106.40) equilibrium zone fof the Minuette operational scale forks.

We look at the details of the USD / JPY movement options from February 10, 2020 on the animated chart.

analytics5e416c56d2918.jpg

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The review was compiled without taking into account the news background. Thus, the opening trading sessions of major 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 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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