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MT5.com - Comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) for December 3

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Forex Analysis:::2019-12-03

Comprehensive analysis of movement options of #USDX vs EUR/USD vs GBP/USD vs USD/JPY (H4) for December 3

This week is the first week of winter. Now, here's a comprehensive analysis of movement options of #USDX, EUR/USD, GBP/USD and USD/JPY (H4) for December 3, 2019 on the Minuette operational scale forks.

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The development of the #USDX (US dollar index) movement for December 3, 2019 will be determined by the development and direction of the breakdown of the 1/2 Median Line channel (98.25 - 98.15 - 98.07) of the Minuette operational scale forks. The details of the options for this movement is presented on the animated chart.

The breakdown of the lower boundary of the 1/2 Median Line Minuette channel (support level of 98.07) is the continuation of the downward movement of #USDX to the equilibrium zone (98.00 - 97.82 - 97.65) of the Minuette operational scale forks.

On the contrary, the breakdown of the resistance level of 98.25 on the upper boundary of the 1/2 Median Line channel of the Minuette operational scale forks will make it relevant to resume the upward movement of the dollar index to the equilibrium zone (98.47 - 98.82 - 99.15) of the Minute operational scale forks.

Details of the movement options of #USDX are presented on the animated chart.

analytics5de5423a5bf12.jpg

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Euro vs US dollar

The development of the EUR/USD (European currency/US dollar) for December 3, 2019 will also be determined by the development and direction of the breakdown of the 1/2 Median Line channel (1.1023 - 1.1035 - 1.1050) of the Minuette operational scale forks. The details of the options for this movement is presented on the animated chart.

The breakdown of the upper boundary of the 1/2 Median Line Minuette channel (resistance level of 1.1050) - will lead to the continuation of the development of the EUR/USD movement in the equilibrium zone (1.1050 - 1.1070 - 1.1085) of the Minuette operational scale forks, and in case of breakdown ISL61.8 Minuette (1.1085), it will become possible for the price of the instrument to reach the boundaries of the 1/2 Median Line channel (1.1100 - 1.1133 - 1.1165) of the Minuette operational scale forks.

Alternatively, the breakdown of the lower boundary of the 1/2 Median Line channel (support level of 1.1023) of the Minuette operational scale forks will determine the continuation of the downward movement of the single European currency towards the targets: the final Schiff Line Minuette (1.1000) - the initial SSL Minuette line (1.0992) - the LTL Minuette control line (1.0981 - local minimum), with the prospect of reaching the upper boundary of ISL38.2 (1.0910) equilibrium zone of the Minuette operational scale forks.

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

analytics5de54224eba63.jpg

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Great Britain pound vs US dollar

Similarly to other currencies, GBP/USD (Great Britain pound/US dollar) will begin to develop its movement depending on the development and direction of breakdown of the boundaries of the 1/2 Median Line channel (1.2930 - 1.2950 - 1.2975) of the Minuette operational scale forks. The development options for the boundaries of this channel are shown on the animated chart.

Consecutive breakdown of resistance levels :

- 1.2975 - the upper boundary of the 1/2 Median Line Minuette channel;

- 1.3000 - the final Schiff Line of the Minuette operational scale forks;

will lead to the continuation of the upward movement of GBP / USD to the equilibrium zone (1.3030 - 1.3060 - 1.3090) of the Minuette operational scale forks.

On the other hand, the return of Her Majesty's currency below the support level of 1.2930 (the lower boundary of the 1/2 Median Line channel of the Minuette operational scale forks) - will give rise to make option to continue the development of movement towards the goals: control line LTL Minuette (1.2860) - local minimums (1.2824 - 1.2769) - upper boundary ISL38.2 (1.2745) equilibrium zone of the Minuette operational scale forks.

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

analytics5de5420adfc20.jpg

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US dollar vs Japanese yen

Likewise, the movement of USD / JPY (US dollar/currency of the "land of the rising sun") for December 3, 2019 will depend on the development and direction of breakdown of the boundaries 1/2 Median Line channel (109.60 - 109.41 - 109.25) of the Minuette operational scale forks. The details of the movement options are seen on the animated chart.

The breakdown of the lower boundary of the 1/2 Median Line channel (support level of 109.25) of the Minuette operational scale forks - will lead to the continuation of the downward movement of USD/JPY to the boundaries of the 1/2 Median Line channel (109.10 - 108.85 -108.58) of the Minuette operational scale forks with the prospect of updating the local minimum 108.26.

On the other hand, the return of the "country of the rising sun" currency above the resistance level of 109.60 on the upper boundary of the 1/2 Median Line Minuette channel will make the development of movement towards the goals relevant: the warning line UWL38.2 Minuette (109.80) - the initial line SSL Minuette (109.90) - the control line UTL (110.00) of the Minuette operational scale forks - the final Schiff Line Minuette (110.15) with the prospect of reaching the lower boundary of the ISL38.2 (110.75) equilibrium zone of the Minuette operational scale forks.

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

analytics5de541f113c47.jpg

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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.

Ratu Taslim
Analyst InstaForex
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