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Forex Dreamers

Daily – Major currency instruments

Operational scale Minor (time frame Daily)

Previous Review #USDX vs EUR/USD & GBP/USD & USD/JPY in timeframe Daily from 17:51 2021-04-02 UTC + 4

Continued growth in the value of major currencies? Overview of driving options #USDX vs EUR/USD & GBP/USD & USD/JPY in timeframe Daily from April 19, 2021

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US Dollar Index

Traffic dollar index #USDX — Daily since April 19, 2021 will be determined by the development and direction of the breakdown the boundaries of the equilibrium zone (91.05 — 91.50 — 91.95) pitchfork of operational scale Minute.

Downward movement dollar index may take place in case of breakdown of the support level 91.05 at the lower boundary of ISL61.8 of the balance zone of the pitchfork of the Minute operational scale and this will be directed towards the goals:

– SSL initial line (90.15) Fork of operational scale Minor;

– initial line SSL Minute (89.60);

minimum 89.18.

Breakout of the resistance level 91.95 at the upper border of ISL38.2 of the balance zone of the pitchfork of the operational scale Minute will determine the development of the movement #USDX to the channel boundaries 1/2 Median Line Minute (92.45 — 92.80 — 93.15) with the prospect of achieving local maximum 93.41 and control line UTL Minute (94.25).

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Euro vs US Dollar

Movements of the single European currency EUR/USD — Daily since April 19, 2021 will also be due to the development and direction of the breakdown the boundaries of the equilibrium zone (1.1930 — 1.1990 — 1.2060) pitchfork of operational scale Minute.

When the resistance level is broken 1.2060 at the upper boundary of ISL61.8 of the balance zone of the pitchfork of the Minute operating scale upward movement EUR/USD will continue to the boundaries of the 1/2 Median Line (1.2090 — 1.2210 — 1.2330) pitchfork of operational scale Minor.

In case of breakdown lower boundary ISL38.2 of the balance zone of the pitchfork operating scale Minute – support level 1.1930 – will be relevant variant of the development of a downward movement single European currency to the channel boundaries 1/2 Median Line Minute (1.1845 — 1.1790 — 1.1745) with the ability to reach the initial line SSL Minute (1.1720) and the upper bound ISL38.2 (1.1695) pitchfork of operational scale Minor.

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Great Britain Pound vs US Dollar

Development of the movement of Her Majesty’s currency GBP/USD — Daily from April 19, 2021 will continue in the equilibrium zone (1.3635 — 1.3945 — 1.4237) pitchfork of operational scale Minor taking into account the development and direction of the range breakdown:

  • resistance level 1.3945 on midline Median Line pitchfork of operational scale Minor;
  • support level 1.3755 on the reaction line RL100.0 pitchfork operating scale Minute.
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Breakdown median line Median Line Minor – resistance level 1.3945continuation of the upward movement Her Majesty’s currency to the upper boundary of ISL61.8 of the balance zone of the pitchfork of the operational scale Minor – maximum 1.4237.

When, when will it be broken reaction line RL100.0 Minute – support level 1.3755, traffic GBP/USD will be directed to the boundaries of the equilibrium zone (1.3615 — 1.3425 — 1.3235) pitchfork of operational scale Minute.

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US Dollar vs Japanese Yen

From April 19, 2021, the movement of the currency of the “land of the rising sun” USD/JPY — Daily will continue in accordance with the development and the direction of the breakdown 1/2 Median Line channel boundaries (108.60 — 109.10 — 109.80) pitchfork of operational scale Minute.

Sequential breakdown the lower boundary of the channel 1/2 Median Line Minute – support level 108.60 и ISL38.2 Minute (108.40) will determine the development of the movement USD/JPY in the equilibrium zone (108.40 — 107.60 — 106.70) pitchfork of operational scale Minute with the prospect of achieving at the cost of a tool SSL initial line (105.50) pitchfork of operational scale Minor.

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Breakout of the resistance level 109.80 on the upper border of the 1/2 Median Line (109.80) the pitchfork of the operating scale Minute will direct the movement currency of the “land of the rising sun” to the goals:

– lower border ISL38.2 (110.20) the balance zone of the pitchfork of the Minor operational scale;

maximum 110.98;

– initial line SSL Minute (111.25);

midline Median Line Minor (111.80);

– control line UTL Minute (112.00).

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Review compiled excluding the news background, 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 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 converts the index value to 100 as of the date

the countdown began in March 1973, when the main currencies began to freely

quoted relative to each other.

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