Forex Analysis & Reviews: 12.11.2020 - USDX and EUR/GBP on H4....

12.11.2020 03:55 PM

USDX and EUR/GBP on H4. Comprehensive analysis of APLs & ZUP for November 13, 2020

Minute operational scale (H4 timeframe)

Previous analysis of US dollar Index & EUR/GBP movements on the H4 timeframe, on October 29, 2020 at 18:16 UTC+3.

The third week of November - will USDX sustain its upward movement? Overview of #USDX possible trajectories as well as of EUR/GBP on the H4 timeframe on November 13, 2020

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USDX

The movement of the US dollar index on the H4 timeframe, on November 13 2020, will be kept within the equilibrium zone (92.20 - 92.80 - 93.35). It may test the channel borders of 1/2 Median Line (92.80 - 93.00 - 93.25) on the minute operational scale.

See details by clicking on the animated*. gif chart (it opens in a separate tab).

A break of the upper border of the channel 1/2 Median Line on the 4H timeframe, the resistance level of 93.25 and the upper border of ISL61.8 (93.35) in the equilibrium zone will determine the subsequent movement of #USDX in the equilibrium zone (93.35 - 93.65 - 93.95) aiming at with updating the local high of 94.27.

The breakout of the support level of 92.80 on the lower border of the channel 1/2 Median Line will determine the movement of the US dollar index to the SSL Minuette (92.40) and the lower bounder of ISL61.8 (92.20). If it breaks below the ISL 61.8, it may drop to the low of 92.10. It may also break through the control line LTL Minuette (92.00. If so, it will resume the downward movement to the ultimate Shiff Line (91.10).

The #USDX movement scenarios options on November 13, 2020 are shown on the animated *. gif chart (it opens in a separate tab)

EUR vs GBP

The movement of the main cross-instrument ,EUR/GBP, will be within the equilibrium zone on November 13, 2020 (0.8920 - 0.8975 - 0.9025). Its next movement will be determined by the breakdown of the range:

the resistance level of 0.8975 on the Median Line

the support level of 0.8955 at the lower border of ISL38. 2

The movement of USDX in the equilibrium zone can be seen at the animated*. gif graph (it opens in a separate tab).

If the support level of 0.8955 on the lower border ISL38.2 is broken and EUR/GBP to the borders of the channel 1/2 Median Line (0.8925 - 0.8905 - 0.8885) and the lower border of ISL61.8 (0.8920) is broken, the pair is expected to resume the downward movement to the levels:

- SSL initial line (0.8770)

- local low of 0.8860

- LTL control line (0.8825)

In the case of the breakout of the Median Line, the resistance level of 0.8975 and Median Line Minuette of 0.8980, the EUR/GBP may rise to the upper border of ISL61.8 (0.9010) in the equilibrium zone and the upper border of ISL38.2 (0.9025). If these levels are broken, then the pair may grow to the levels of:

- local high of 0.9067;

- Shiff Line Minuette (0.9080);

- FSL Minuette line (0.9100).

Details of the EUR/GBP movement on November 13, 2020, are shown on the animated*. gif chart (it opens in a separate tab).

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

More analysis on InstaForex

ZUP and Andrews' Pitchfork (terms, concepts, parameters)

Materials to study ZUP & APL's analysis

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