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Long-term review

Let's take a comprehensive look at how #USDX vs EUR / USD h4 vs GBP / USD h4 will behave from July 12, 2019.

Minuette operating scale (H4)

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US dollar Index

From July 12, 2019, the dollar index #USDX will continue to develop its movement depending on the development and direction of the breakdown of the 1/2 Median Line channel boundaries (96.85 - 96.65 - 96.40) of the Minuette operational scale. More details about the movement options inside this channel are shown in the animated graphic.

In the case of a breakdown of the upper boundary of the 1/2 Median Line channel (resistance level of 96.85), Minuette operating scale fork together with ISL38.2 Minuette (96.90), the development of the dollar index movement will begin again in the equilibrium zone (96.90 - 97.20 - 97.50) of the Minuette operating scale fork, and if the breakdown of the ISL61.8 Minuette (resistance level of 97.50) happens, then updating the #USDX local maximums (97.59 - 97.77) will become necessary.

On the other hand, in case of breakdown of the support level of 96.40 (the lower boundary of the 1/2 Median Line channel of the Minuette operational scale), further development of the dollar index movement will continue in the 1/2 Median Line channel (96.40 - 96.20 - 95.95) of the Minuette operational scale fork.

The details of the #USDX movement are demonstrated in the animated graphics.

Exchange Rates 12.07.2019 analysis

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Euro vs US Dollar

The development of the movement of the single European currency EUR / USD from July 12, 2019 will be due to the direction of the range breakdown:

resistance level of 1.1290 at the upper boundary of the ISL38.2 equilibrium zone of the Minuette operating scale fork;

support level of 1.1275 on the ultimate Schiff Line of the Minuette operating scale fork.

In case that the single European currency returns below the support level of 1.1275 (final Schiff Line Minuette), then the development of this movement will be directed to the Median Line Minuette (1.1255), and if it breaks down, it will be possible to return EUR / USD to the equilibrium zone (1.1240 - 1.1210 - 1.1180) Minuette operating scale fork.

The breakdown of the upper boundary of the ISL38.2 (resistance level of 1.1290) of the equilibrium zone of the Minuette operational scale fork will determine the continuation of the upward movement of the single European currency to the boundaries of the 1/2 Median Line Minuette channel (1.1325 - 1.1350 - 1.1380).

Details of the EUR / USD movement options are shown in the animated graphic.

Exchange Rates 12.07.2019 analysis

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Great Britain Pound vs US Dollar

Her Majesty's currency GBP / USD continues to remain in the 1/2 Median Line channel (1.2570 - 1.2525 - 1.2480) of the Minuette operating scale, and accordingly, the further development of the movement of this instrument will depend on the development and direction of the breakdown of the above levels. The options for movement within this channels can be seen in the animated graphics.

The breakdown of the lower boundary of the 1/2 Median Line channel of the Minuette operating scale (support level of 1.2480) will determine the further development of GBP / USD movement in the equilibrium zone (1.2493 - 1.2450 - 1.2405) of the Minuette operational scale fork, with the option after the breakdown of ISL61.8 Minuette (support level of 1.2405), reaching the warning line LWL38.2 (1.2365) of the Minuette operating scale fork.

If the resistance level of 1.2570 has broken through the upper boundary of the 1/2 Median Line Minuette channel, then the upward movement of Her Majesty's currency will be directed to the initial SSL line (1.2620) and the 1/2 Median Line channel limits (1.2640 - 1.2670 - 1.2705) of the Minuette operating scale.

The details of the GBP / USD movement are presented in the animated graphic.

Exchange Rates 12.07.2019 analysis

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The review was compiled without taking into account of the news background. 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 is:

USDX = 50.14348112 * USDEUR0.576 * USDJPY0.136 * USDGBP0.119 * USDCAD0.091 * USDSEK0.042 * USDCHF0.036.

where power ratios 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 gives 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.

Performed by Ratu Taslim,
Analytical expert
InstaForex Group © 2007-2019
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