empty
15.10.2020 01:46 PM
US Dollar Index and the "main" cross-instrument EUR/GBP - h4. Comprehensive analysis of APLs & ZUP traffic options from October 16, 2020

Operational scale Minute (h4 timeframe )

Second half of October - the dollar index #USDX and the GBP in the h4 timeframe - What's next? - Review of traffic options from October 16, 2020

____________________

US Dollar Index

The development of the movement of the dollar index #USDX from October 16, 2020 will continue in the equilibrium zone (92.72 - 93.30 - 93.88) forks of the operational scale Minute, taking into account the development and direction of the breakdown of the range:

  • resistance level 93.75 on the lower border of the channel 1/2 Median Line operating scale forks Minuette
  • support level 93.60 on the initial line SSL operating scale forks Minuette

The breakdown of the resistance level of 93.75 - continued development of the movement #USDX within the boundaries of the channel 1/2 Median Line Minuette (93.75 - 94.00 - 94.25) with the prospect of reaching the lower border ISL38.2 (94.65) zone equilibrium fork operational scale Minuette and c, then updating the local maximum 94.71.

A joint breakdown of the support level of 93.75 on the initial SSL fork line of the Minuette operational scale and the Median Line Minute (93.30) will make it relevant to develop the movement of the dollar index towards the goals:

- LTL Minuette control line (93.05);

- local minimum 92.98;

- lower limit ISL61.8 (92.72) of the fork equilibrium zone of the operational scale Minute;

- the ultimate Shiff Line Minuette (92.50).

This image is no longer relevant

___________________

Euro vs Great Britain Pound

The movement of the "main" cross-instrument EUR/GBP from October 16, 2020 will also occur in the equilibrium zone (0.8965 - 0.9018 - 0.9070) forks of the operational scale Minute depending on the working out and direction of the range breakdown:

  • resistance level is 0.9136 on the initial SSL line of the operating scale fork Minuette
  • support level is 0.9090 on the Median Line of the operating scale fork Minute

A breakdown of the Median Line Minute - support level 0.9018 - followed by a breakdown of the LTL control line (0.9010) of the Minuette operating scale forks - will determine the development of a downward movement of EUR/GBP to the lower border of ISL61.8 (0.8965) of the equilibrium zone of the Minute operating scale forks with the prospect of reaching the local minimum 0.8865.

If the resistance level of 0.9060 is broken, the movement of the "main" cross-instrument will continue in the channel 1/2 Median Line Minuette (0.9060 - 0.9075 - 0.9090) with the possibility of reaching the boundaries of the equilibrium zone (0.9110 - 0.9135 - 0.9161) a fork of the Minuette operational scale.

This image is no longer relevant

____________________

The review is compiled without taking into account the news background, the opening of trading sessions of the main financial centers and is not a guide to action (placing "sell" or "buy" orders).

Ratu Taslim,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forex forecast 16/04/2025: EUR/USD, GBP/USD, USD/CAD, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:55 2025-04-16 UTC+2

Technical Analysis of Intraday Price Movement of USD/CAD Commodity Currency Pairs, Wednesday April 16, 2025.

On the 4-hour chart, the USD/CAD commodity currency pair can be seen moving below the EMA (100) and the appearance of a Bearish 123 pattern and the position

Arief Makmur 07:37 2025-04-16 UTC+2

Technical Analysis of Intraday Price Movement of AUD/JPY Cross Currency Pairs, Wednesday April 16, 2025.

With the Stochastic Oscillator condition heading towards the Oversold level (20) on the 4-hour chart of the AUD/JPY cross currency pair, in the near future AUD/JPY has the potential

Arief Makmur 07:35 2025-04-16 UTC+2

EUR/USD Forecast for April 16, 2025

Yesterday, the euro zone's ZEW economic sentiment indicators for April were disappointing. The index plunged from 39.8 in March to -18.5, far below the forecast of 13.2. We believe

Laurie Bailey 05:12 2025-04-16 UTC+2

GBP/USD Forecast for April 16, 2025

The British pound continues to rise according to our previously outlined scenario (see reference), heading toward the magnetic point at 1.3311, which is the intersection with the upper boundary

Laurie Bailey 05:12 2025-04-16 UTC+2

USD/JPY Forecast for April 16, 2025

On the daily chart, the price has formed a small triangle around the 143.45 level and consolidated below it. Since the nearest target at 141.70 is close, the price

Laurie Bailey 05:12 2025-04-16 UTC+2

Trading Signals for GOLD (XAU/USD) for April 15-18, 2025: sell below $3,220 (+1/8 Murray - 21 SMA)

Early in the American session, gold is trading around 3,220, showing signs of exhaustion. A further technical correction toward the 21SMA is likely in the coming hours

Dimitrios Zappas 14:05 2025-04-15 UTC+2

Forecast for GBP/USD on April 15, 2025

On the hourly chart, the GBP/USD pair continued rising on Monday and secured a position above the 1.3139 level. Thus, the upward movement may continue toward the next Fibonacci corrective

Samir Klishi 11:59 2025-04-15 UTC+2

Forecast for EUR/USD on April 15, 2025

On Monday, the EUR/USD pair continued to rise but returned by the end of the day to the 261.8% Fibonacci retracement level at 1.1318. A double rebound from this level

Samir Klishi 11:55 2025-04-15 UTC+2

Forex forecast 15/04/2025: EUR/USD, GBP/USD, USD/JPY, USD/CAD and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:44 2025-04-15 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.