Comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY for December 4

Minuette operational scale forks (H4)

The movement of instruments required a correction in the markup. Now, we are looking at the updated comprehensive analysis of #USDX, EUR/USD, GBP/USD and USD/JPY for December 04, 2019.

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US dollar index

From December 04, 2019, the development of the movement of the dollar index #USDX will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (97.95 - 97.80 - 97.65) of the Minuette operational scale forks. The markup of the options for this movement is presented on the animated chart.

The breakdown of the lower boundary of ISL61.8 of the equilibrium zone of the Minuette operational scale forks (support level of 97.65) - will determine the continuation of the downward movement of #USDX to the boundaries of the 1/2 Median Line channel (97.42 - 97.20 - 97.00) of the Minuette operational scale forks.

On the contrary, the breakdown of the resistance level of 97.95 at the upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks is an option for the development of the movement of the dollar index to the boundaries of 1/2 Median Line Minuette channel (98.07 - 98.17 - 98.27).

The details of the #USDX movement are presented on the animated chart.

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Euro vs US dollar

Starting from December 4, 2019, the movement of the single European currency/US dollar (EUR/USD) will also be determined by the development and direction of the breakdown of the equilibrium zone (1.1090 - 1.1075 - 1.1055) of the Minuette operational scale forks. Details of the movement of the indicated levels are presented on the animated chart.

The breakdown of the upper boundary of ISL61.8 of the equilibrium zone of the Minuette operational scale forks (resistance level of 1.1090) will direct the movement of EUR / USD to the boundaries of the 1/2 Median Line channel (1.1101 - 1.1133 - 1.1166) of the Minuette operational scale forks.

Alternatively, the breakdown of the lower boundary ISL38.2 (support level of 1.1055) of the equilibrium zone of the Minuette operational scale forks together with the breakdown of the support level of 1.1050, will determine the development of the movement of the single European currency in the 1/2 Median Line Minuette channel (1.1050 - 1.1035 - 1.1022) with the prospect of reaching the SSL start line Minuette (1.1000) and updating the local minimum 1.0981.

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

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Great Britain pound vs US dollar

On the other hand, the development of Great Britain pound/US dollar (GBP/USD) currency movement from December 4, 2019 will depend on the development and direction of the breakdown of the range :

  • resistance level of 1.3012 - final Schiff Line of the Minuette operational scale forks;
  • support level of 1.2935 - the upper boundary of the 1/2 Median Line of the Minuette operational scale forks.

The breakdown of the final Schiff Line (resistance level of 1.3012) of the Minuette operational scale forks will make it possible for Her Majesty's currency to reach the boundaries of the equilibrium zone (1.3040 - 1.3075 - 1.3100) of the Minuette operational scale forks with the prospect of reaching the FSL Minuette final line (1.3205).

Meanwhile, the breakdown of the support level of 1.2975 will return the development of the GBP / USD movement to the 1/2 Median Line channel (1.2975 - 1.2955 - 1.2935) of the Minuette operational scale forks, and if the lower boundary of 1.2935 of this channel is broken, then the downward movement of this currency instrument can continue to the targets: control line LTL Minuette (1.2870) - minimums (1.2824 - 1.2759).

The details of the GBP / USD movement options are shown on the animated chart.

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US Dollar vs Japanese Yen

Similarly, the movement of the currency of the "land of the rising sun" USD / JPY from December 4, 2019 will be determined by the development and direction of the breakdown of the boundaries of the channel of the equilibrium zone (108.90 - 108.65 - 108.40)of the Minuette operational scale forks. We look at the options for working out these levels animated chart.

The breakdown of the lower boundary ISL61.8 (support level of 108.90) of the equilibrium zone of the Minuette operational scale forks, will lead to the continuation of the downward movement of USD / JPY to the local minimum of 108.26, and when it is updated, it will become possible to reach the price of the warning line tool LWL161.8 (108.05) of the Minuette operational scale forks and the end line of the FSL Minuette (107.60).

In contrast, the breakdown of the upper boundary of ISL38.2 (resistance level of 108.90) of the equilibrium zone of the Minuette operational scale forks with subsequent breakdown of the resistance level 108.95 will determine the development of the currency movement of the "land of the rising sun" in 1/2 Median Line Minuette channel (108.95 - 109.10 - 109.27) with the prospect of reaching the initial SSL line (109.45) and the lower boundary of the 1/2 Median Line channel (109.65) of the Minuette operational scale forks, after the breakdown of the upper boundary of 1/2 ML Minuette channel - 109.27.

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.

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