How will the flat end? Here's a comprehensive analysis of the #USDX, EUR / USD, GBP / USD and EUR / GBP movement options for November 15, 2019 on the Minuette operational scale fork.
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US dollar Index
The movement of the dollar index #USDX from November 15, 2019 will be due to the development and direction of the breakdown of the range :
- resistance level of 98.45 at the lower boundary of ISL38.2 of the Minuette operational scale fork;
- support level of 98.25 on the upper boundary of the 1/2 Median Line Minuette channel.
During the breakdown of ISL38.2 Minuette (resistance level of 98.45), the movement of the dollar index will continue in the equilibrium zone (98.45 - 98.80 - 99.17) of the Minuette operational scale fork.
On the other hand, the breakdown of support level of 98.25 together with the initial SSL line (98.17) of the Minuette operational scale forks will determine the development of the #USDX movement in the 1/2 Median Line channel (98.25 - 97.97 - 97.70) of the Minuette operational scale forks with the prospect of reaching the upper boundary of ISL38.2 (97.55) Minuette operational scale forks.
Marking up #USDX movement options from November 15, 2019 is shown in the animated chart.
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Euro vs US dollar
The development of the movement of the single European currency EUR / USD from November 15, 2019 will be determined by the development and the direction of the breakdown of the range :
- resistance level of 1.1000 (lower boundary of the ISL61.8 equilibrium zone of the Minuette operational scale fork);
- support level of 1.0965 (upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale fork)
With the breakdown of the resistance level of 1.1000 on ISL61.8 Minuette, the development of the movement of the single European currency will begin to occur in the equilibrium zone (1.1000 - 1.1015 - 1.1030) of the Minuette operational scale fork, and with the breakdown of ISL38.2 Minuette (1.1030) will make the continuation of the development of the upward movement of this currency instrument to the boundaries of the 1/2 Median Line channel (1.1070 - 1.1000 - 1.1135) of the Minuette operational scale fork.
On the contrary, the breakdown of ISL38.2 Minuette (support level of 1.0695) will confirm the development of the EUR / USD movement within the equilibrium zone (1.0965 - 1.0920 - 1.0875) of the Minuette operational scale fork.
The details of the EUR / USD movement options are shown in the animated chart.
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Great Britain pound vs US dollar
SImilarly, the development of Her Majesty's GBP / USD currency movement from November 15, 2019 will also depend on the development and direction of the breakdown of the 1/2 Median Line (1.2880 - 1.2860 - 1.2835) of the Minuette operational scale fork. Look at the movement details on the animated chart.
The breakdown of the upper boundary of the channel 1/2 Median Line Minuette (resistance level of 1.2880) - an option to achieve GBP / USD boundaries of the equilibrium zone (1.2915 - 1.2950 - 1.2985) of the Minuette operational scale fork with the prospect of updating maximum 1.3012.
In case of breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 1.2835), the downward movement of the currency of Her Majesty can be extended to the objectives - initial line Minuette the SSL (1.2810) - the local minimum 1.2768 - Control line Minuette LTL (1.2760) - the equilibrium zone (1.2730 - 1.2635 - 1.2540)of the Minuette operational scale fork.
The details of the GBP / USD movement can be seen on the animated chart.
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Euro vs Great Britain pound
The development of the movement of the "main" cross-instrument EUR / GBP from November 15, 2019 will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (0.8580 - 0.8530 - 0.8480) of the Minuette operational scale fork. The details are shown in the animation chart.
A combined breakdown of the upper boundary of ISL38.2 (resistance level of 0.8580) of the equilibrium zone of the Minuette operational scale fork and the start line SSL Minuette (0.8590) will direct the development of the upward movement EUR / GBP to the boundaries of the 1/2 Median Line Minuette channel (0.8640 - 0.8675 - 0.8710) with the prospect of reaching the initial SSL Minuette line (0.8725) and the lower boundary of ISL38.2 (0.8760) of the equilibrium zone of the Minuette operational scale fork.
On the contrary, the breakdown of the support level of 0.8480 at the lower boundary of the ISL61.8 equilibrium zone of the Minuette operational scale fork will make it possible to continue the downward movement of the "main" cross-instrument to the targets: reaction line RL100.0 Minuette (0.8425) - control line LTL (0.8340) of the Minuette operational scale fork.
We look at the details of the EUR / GBP 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.
