Minuette operational scale (H4)
Here's a comprehensive analysis of development options for the movement of the dollar index and commodity currency instruments #USDX vs AUD / USD vs USD / CAD vs NZD / USD in the last week of a leap winter.
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US dollar index
The movement of the dollar index #USDX from February 26, 2020 will be determined by the direction of the breakdown of the range :
- resistance level of 99.50 - 1/2 Median Line Minuette;
- support level of 99.30 - the upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks.
In case of breakdown of ISL38.2 Minuette - support level of 99.30, the development of the dollar index movement will continue in the equilibrium zone (99.30 - 99.10 - 98.88) of the Minuette operational scale forks with the prospect of reaching the boundaries of 1/2 Median Line channel (98.70 - 98.30 - 97.85) of the Minuette operational scale forks and start line SSL Minuette (97.20).
On the other hand, in case of breakdown of the 1/2 Median Line Minuette - resistance level of 99.50 - will lead to the continuation of the development of the upward movement #USDX towards the goals:
- the upper boundary of ISL61.8 (100.06) equilibrium zone of the Minuette operational scale forks;
- control line UTL (100.30) of the Minuette operational scale forks.
The markup of #USDX movement options from February 26, 2020 is shown on the animated chart.
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Australian dollar vs US dollar
The development and the breakdown of the range :
- resistance level of 0.6595 - warning line LWL61.8 of the Minuette operational scale forks;
- support level of 0.6587 - start line SSL of the Minuette operational scale forks
will begin to determine the development of the movement of the Australian dollar AUD / USD from February 26, 2020.
The breakdown of the warning line LWL61.8 of the Minuette operational scale forks - resistance level 0.6595 - is an option for the movement of the Australian dollar to the boundaries of the 1/2 Median Line channel (0.6610 - 0.6623 - 0.6635) and the equilibrium zone (0.6655 - 0.6675 - 0.6695) of the Minuette operational scale forks.
Meanwhile, in case of breakdown of the initial line of SSL of the Minuette operational scale forks - support level 0.6587 - the downward movement of AUD / USD can be continued to the control line LTL Minuette (0.6565) and the warning line LWL100.0 (0.6535) oof the Minuette operational scale forks.
We look at the layout of the AUD / USD movement options from February 26, 2020 on the animated chart.
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US dollar vs Canadian dollar
Starting from February 26, 2020, the Canadian dollar USD / CAD will continue its movement depending on the direction of the breakdown of the range :
- resistance level of 1.3300 - lower boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks;
- support level of 1.3280 - start line SSL of the Minuette operational scale forks.
The breakdown of the support level of 1.3280 on the initial SSL line of the Minuette operational scale forks will make it relevant to continue the development of the downward movement of the Canadian dollar to the goals:
- the initial SSL Minuette line (1.3225);
- control line LTL Minuette (1.3215);
- local minimum 1.3201;
- 1/2 Median Line Minuette channel (1.3185 - 1.3140 - 1.3095).The breakdown of the resistance level of 1.3300 on the ISL38.2 Minuette will lead to the development of the USD / CAD movement in the equilibrium zone (1.3300 - 1.3330 - 1.3360) of the Minuette operational scale forks with the prospect of reaching the final Schiff Line Minuette (1.3410).
We look at the markup of USD / CAD movement options from February 26, 2020 on the animated chart.
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New Zealand dollar vs US dollar
On February 26, 2020, the development of the movement of the New Zealand dollar NZD / USD will depend on the development and direction of the breakdown of the range :
- resistance level of 0.6325 (lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks);
- support level of 0.6310 (upper boundary of the ISL38.2 equilibrium zone of the Minuette operational scale forks).
In case of breakdown of the resistance level of 0.6325, the NZD / USD movement will continue in the 1/2 Median Line Minuette channel (0.6325 - 0.6336 - 0.6350) with the prospect of reaching the boundaries of the equilibrium zone (0.6390 - 0.6415 - 0.6440)of the Minuette operational scale forks.
Alternatively, with the breakdown of the support level of 0.6310 on ISL38.2 Minuette, the development of the movement of the New Zealand dollar in the equilibrium zone (0.6310 - 0.6215 - 0.6120) of the Minuette operational scale forks will be relevant, taking into account the development of the control line LTL Minuette (0.6275) and the final Schiff Line Minuette (0.6170).
We look at the layout of the NZD / USD movement options from February 26, 2020 on the animated chart.
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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 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.
