Comprehensive analysis of movement options for #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) on April 27, 2020

Minuette operational scale (H4)

Start of a correction? Options for the development of the movement of major currency instruments #USD vs EUR/USD vs GBP/USD vs USD/JPY on April 27, 2020 in a complex form

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US dollar index

The development of the movement of the dollar index #USDX from Monday, April 27, 2020, will be determined depending on the development and direction of the breakdown of the range:

  • resistance level of 100.87 - UTL control line of the Minuette operational scale forks;
  • support level of 100.30 - the border of the red zone of the Minuette operational scale forks.

The breakdown of the border of the red zone of the Minuette operational scale forks - support level of 100.30 - the development of the downward movement of the dollar index will be sent to the borders of the channel 1/2 Median Line (100.05-99.85-99.55) and equilibrium zone (99.70-99.30-98.95) of the Minuette operational scale forks.

Breakdown of the UTL control line of the Minuette operational scale forks - the resistance level of 100.87 - option for the development of the upward movement #USDX to the goals:

  • SSL start line (101.30) of the Minuette operational scale forks;
  • the lower boundary of the channel 1/2 Median Line Minute (102.45).

Details of marking the movement of the dollar index from April 20, 2020 are presented 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 27, 2020 will also be determined by the development and direction of the breakdown of the range:

  • resistance level of 1.0820 - lower border of the channel 1/2 Median Line Minuette;
  • support level of 1.0775 - lower border of the channel 1/2 Median Line Minute.

In case of breaking the lower border of the channel 1/2 Median Line Minuette - resistance level of 1.0820 - option of the movement of a single European currency within the boundaries of the channel 1/2 Median Line (1.0820-1.0845-1.0875) and equilibrium zone (1.0860-1.0900-1.0940) of the Minuette operational scale fork with the prospect of achieving the upper border of the channel 1/2 Median Line Minute (1.0960) and the local maximum 1.0990.

When breaking the lower border of the channel 1/2 Median Line Minute - support level of 1.0775 - the downward movement of EUR/USD can continue to the control line LTL (1.0727) of the Minuette operational scale fork with the prospect of reaching the price of the instrument's minimum of 1.0636.

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

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Great Britain pound vs US dollar

The movement of Her Majesty's currency GBP/USD from April 27, 2020, as well as in the first two cases, will be due to the development and direction of the breakdown of the range:

  • resistance level of 1.2350 - initial line of SSL of the Minuette operational scale fork;
  • support level of 1.2270 - control line LTL of the Minuette operational scale fork.

Breakdown of the initial line of SSL of the Minuette operational scale fork - resistance level of 1.2350 - option to continue the development of the upward movement of GBP/USD to the borders of the channel 1/2 Median Line (1.2435-1.2495-1.2545) and equilibrium zones (1.2585-1.2660-1.2735) of the Minuette operational scale fork.

The breakdown of the LTL control line of the Minuette operational scale forks - support level of 1.2270 - together with the update of the local minimum of 1.2246 - an option to continue the development of the downward movement of Her Majesty's currency to the goals:

  • minimum of 1.2165;
  • SSL start line (1.2097) of the Minuette operational scale forks;

With the prospect of reaching the upper boundary of the channel 1/2 Median Line Minute (1.1850).

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

analytics5ea31640acd58.jpg

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US dollar vs Japanese yen

Starting April 20, 2020, the movement of the "Land of the Rising Sun" USD/JPY currency will be determined by working out and the direction of the breakdown of the boundaries of the equilibrium zone (107.10-107.90-108.70) of the Minuette operational scale forks - the options for working out the borders of this channel are shown in the animated graph.

In case of breakdown of the lower border ISL61.8 of the equilibrium zone of the Minuette operational scale forks - support level of 107.10 - the development of the currency of the "Land of the Rising Sun" will begin to flow in the channel 1/2 Median Line (107.10-105.85-104.60) of the Minuette operational scale forks.

And if there is a break of the top border ISL61.8 zone equilibrium of the Minuette operational scale forks - resistance level of 108.70 - then the development of the upward movement the USD/JPY may continue to order:

  • warning line UWL100. 0 (111.00) of the Minuette operational scale forks;
  • final line FSL Minuette (111.25);

With the prospect of reaching a maximum of 111.72.

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

analytics5ea31664a534b.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).

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 sterling - 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