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Major currency instruments – EUR / USD & GBP / USD & USD / JPY and US Dollar Index

Operational scale Minute (timeframe h4)

What is expected from the major currency instruments at the end of April and in the first holiday week of May? Overview of driving options #USDX vs EUR/USD & GBP/USD & USD/JPY from April 29, 2021

US Dollar Index

Development of the movement of the dollar index – #USDX – h4will continue to be determined by the development and direction of the range breakout:

  • resistance level 91.05 at the lower boundary of ISL61.8 of the balance zone of the pitchfork of the Minute operating scale;
  • support level 90.75 – on the initial SSL line of the MInuette operational scale pitchfork.

Breakdown ISL38.2 Minute — resistance level 91.05 return of movement development #USDX to the boundaries of the equilibrium zone (91.05 — 91.50 — 91.95) pitchfork of operational scale Minute, and if it happens breakdown ISL61.8 Minute (91.95) – then upward movement this instrument can be continued to the equilibrium zone (92.10 — 92.55 — 92.95) pitchfork of operational scale Minuette.

With a consistent breakout of support levels:

90.75 – SSL Minuette initial line;

90.64local minimum;

90.56 – LTL Minuette control line;

downward movement dollar index can be continued to warning lines – LWL38.2)90.10) and LWL61.8 (89.70) – pitchfork of operational scale Minuette and final FSL line (89.60) pitchfork of operational scale Minute.

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Euro vs US Dollar

Movement development single European currency EUR/USD — h4 from April 29, 2021 will also depend on the development and direction of the range breakout:

  • resistance level 1.2105 – the initial line of SSL forks of the Minuette operational scale;
  • support level 1.2065 at the upper boundary of ISL61.8 of the balance zone of the pitchfork of the Minute operating scale.

Breakdown ISL61.8 Minute support level 1.2065 – return of movement development single European currency in the equilibrium zone (1.2065 — 1.2000 — 1.1935) a pitchfork of the operational scale MInute with the prospect of reaching the boundaries of the equilibrium zone (1.1915 — 1.1855 — 1.1800) pitchfork of operational scale Minuette.

In case of joint breakdown of resistance levels:

1.2105 – SSL Minuette initial line;

1.2117 – local maximum;

1.2130 – control line UTL Minuette;

the continuation of the upward movement of EUR / USD towards the targets will become relevant:

– warning line UWL38.2 Minuette (1.2195);

local maximum 1.2243;

– warning line UWL61.8 Minuette (1.2255);

– end line FSL Minute (1.2280).

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Great Britain Pound vs US Dollar

AND movement development Her Majesty’s currency – GBP/USD — h4 – from April 29, 2021 will continue depending on the development and direction of the range breakdown:

  • resistance level 1.3895 on the lower border of the 1/2 Median Line channel of the Minuette operational scale;
  • support level 1.3855 on the control line LTL pitchfork Minute.
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Breakdown control line LTL pitchfork operating scale Minute – support level 1.3855 – will direct the development of the movement GBP/USD to the final Shiff Line Minuette (1.3795) and to the boundaries of the equilibrium zone (1.3760 — 1.3710 — 1.3655) pitchfork of operational scale Minuette.

In case of breakdown resistance level 1.3895 movement development Her Majesty’s currency will continue on channel 1/2 Median Line (1.3895 — 1.3930 — 1.3965) pitchfork of operational scale Minuette, and if breakout of the upper boundary (1.3965) this channel it will be possible continued development of the upward movement of this currency instrument to the goals:

local maximum 1.4008;

– control line UTL Minuette (1.4075).

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US Dollar vs Japanese Yen

Country of the Rising Sun Currency USD/JPY — h4 from April 29, 2021 will continue to develop its movement in accordance with the development and direction of the breakout channel 1/2 Median Line (108.40 — 108.75 — 109.10) pitchfork of operational scale Minuette.

Breakout of the resistance level 109.10 on the upper border of the 1/2 Median Line Minuette – continuation of the upward movement currency of the “land of the rising sun” to the equilibrium zone (109.40 — 110.00 — 110.50) pitchfork of operational scale Minuette.

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In case of breakdown lower boundary of channel 1/2 Median Line pitchfork of operational scale Minuette – support level 108.40 – movement development USD/JPY will start to flow again inside equilibrium zones (108.50 — 107.65 — 106.80) pitchfork of operational scale Minute taking into account the development of support levels:

107.75 – SSL Minuette initial line;

107.49local minimum;

107.30 – LTL Minuette control line;

107.07Ultimate Shiff Line Minute.

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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).

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 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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