Comprehensive analysis of movement options for #USDX vs AUD/USD & USD/CAD & NZD/USD (H4) on May 19, 2020

By | May 18, 2020
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Comprehensive analysis of movement options for #USDX vs AUD/USD & USD/CAD & NZD/USD (H4) on May 19, 2020

Minuette operational scale (H4)

Commodity currencies and the dollar index – #USDX vs AUD/USD & USD/CAD & NZD/USD – options for the development of the movement from May 19, 2020.

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US dollar index

From May 19, 2020, the movement of the dollar index (#USDX) will be determined by the development and direction of the breakdown of the range:

  • resistance level 100.56 on the UTL control line of the Minuette operational scale forks;
  • support level 100.30 on the initial line of the SSL of the Minuette operational scale forks.

If the initial line of the SSL of the Minuette operational scale forks is broken – the support level is 100.30 – the development of the dollar index movement will be directed to the borders of the 1/2 Median Line channel (99.70-99.45-99.15) and equilibrium zones (99.05-98.65-98.25) of the Minuette operational scale forks.

In turn, the breakdown of the UTL control line of the Minuette operational scale forks – the 100.50 resistance level – will direct the development of the #USDX movement towards the goals:

local maximum 100.87.

SSL Minute start line (101.45);

the lower limit of the channel 1/2 Median Line (102.60) of the Minuette operational scale forks.

The layout of the #USDX movement options from May 19, 2020 is shown on the animated chart.

analytics5ec2b828af05a.jpg

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Australian dollar vs US dollar

From May 19, 2020, the development of the movement of the Australian dollar (AUD/USD) will be determined by the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (0.6480-0.6460-0.6435) of the Minuette operational scale forks – details of working out the boundaries of this channel are shown on the animated chart.

If the resistance level 0.6480 upper border of the channel 1/2 Median Line of the Minuette operational scale forks – a variant of an upward movement of the Australian dollar to the goals:

  • control line UTL Minuette (0.6555);
  • local maximum 0.6571;
  • final line of FSL (0.6600) of the Minuette operational scale forks.

In the event of a breakdown of the lower border of the channel 1/2 Median Line Minuette-support level 0.6435 – the downward movement of AUD/USD can be continued to the goals:

local minimum 0.6374;

ultimate Shiff Line Minuette (0.6360);

zone of equilibrium (0.6295-0.6250-0.6210) of the Minuette operational scale forks.

The markup of the AUD/USD movement options from May 19, 2020 is shown on the animated chart.

analytics5ec2b80c23741.jpg

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US dollar vs Canadian dollar

The development of the movement of the Canadian dollar (USD/CAD) from May 19, 2020 will be due to the development and direction of the breakdown of the boundaries of the 1/2 Median Line channel (1.4120-1.4085-1.4049) of the Minuette operational scale forks – details of the movement inside this channel look at the animated chart.

With the breakdown of the support level 1.4049 at the lower border of the 1/2 channel Median Line Minuette, the further development of the downward movement of the Canadian dollar to the goals will be determined:

  • control line LTL (1.3980) forks operational scale Minute;
  • control line LTL (1.3940) forks operational scale Minuette;
  • local minimum`s 1.3899 – 1.3849.

A breakdown of the resistance level of at the upper border of the 1/2 medium Line Minuette channel will make it possible to continue the upward movement of USD/CAD towards the goals:

  • local maximum (1.4172);
  • zone of equilibrium (1.4230 – 1.4280 – 1.4325) of the Minuette operational scale forks.

Options for the development of the USD/CAD movement from May 19, 2020 are shown on the animated chart.

analytics5ec2b7f3cb9d5.jpg

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New Zealand dollar vs US dollar

The development of the movement of the New Zealand dollar (NZD/USD) from May 19, 2020 will also depend on the development and direction of the breakdown of the range:

  • resistance level is 0.5975 on the final Shiff Line Minuette;
  • support level 0.5945 at the upper boundary of the ISL38.2 balance zone of the Minuette operational scale forks.

In the breakdown of the resistance level 0.5975 on the ultimate Shiff Line Minuette upward movement in the NZ dollar may continue to initial line SSL (0.6010) of the Minuette operational scale fork and channel borders 1/2 Median Line (0.6065-0.6100-0.6130) of the Minuette operational scale forks.

Breakout ISL38.2 Minuette – support level 0.5945 – option resuming the development of the movement of NZD/USD in the equilibrium zone (0.5945-0.5905-0.5865) of the Minuette operational scale forks with the prospect of reaching the final FSL Minuette line (0.5740).

Since May 19, 2020, we have been marking up the options for the NZD/USD movement on the animated chart.

analytics5ec2b7d9483d1.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 market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

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