Minute operational scale (H4)
How will the main currency instruments behave relative to each other from July 10, 2020 - options for the development of the movement of the currency pairs EUR/GBP & EUR/JPY & GBP/JPY in the H4 timeframe
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Euro vs Great Britain pound
From July 10, 2020, the development of the movement of the "main" EUR/GBP cross-instrument will be determined by the development and direction of the breakdown of the boundaries of the equilibrium zone (0.9020 - 0.8980 - 0.8940) of the Minuette operational scale fork - see the details of working out the specified levels on the animated chart.
The breakdown of the support level at 0.8940 on the lower border ISL61.8 zone equilibrium of the Minuette operational scale fork will make the actual continuation of the downward movement of the "main" cross-tool to the borders of the channel 1/2 Median Line (0.8870 - 0.8790 - 0.8800) of the Minute operational scale fork.
In case of breaking the resistance level of 0.9020 at the upper boundary ISL38.2 zone equilibrium of the Minuette operational scale fork will be possible development of upward movement of the EUR/GBP to the initial line SSL (0.9070) of the Minute operational scale fork and channel borders 1/2 Median Line Minuette (0.9090 - 0.9120 - 0.9150).
The EUR/GBP movement options from July 10, 2020 are shown on the animated chart.
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Euro vs Japanese yen
The development of the EUR/JPY cross-instrument movement will continue in the 1/2 Median Line channel from July 10, 2020 (122.70 - 121.60 - 120.70) of the Minuette operational scale fork, taking into account the development and breakdown direction of the range:
resistance level of 121.60 - 1/2 Median Line Minute;support level of 121.35 - LTL control line of the Minuette operational scale fork.If the support level 121.35 - on the line of control LTL of the Minuette operational scale fork will determine the continued movement of the cross tool to the lower border of the channel 1/2 Median Line Minute (120.70), local minimum 119.27 and the upper boundary ISL38.2 (119.15) equilibrium zone of the Minute operational scale fork.
If the resistance level of 121.60 is broken at 1/2 Median Line Minute, the upward movement of EUR/JPY will be directed to the targets:
upper limit of the channel 1/2 Median Line Minute (122.70);initial SSL line (123.35) of the Minute operational scale fork;lower border of the channel 1/2 Median Line Minuette (124.20);maximum 124.40.From July 10, 2020, we look at the EUR/JPY movement options on the animated chart.
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Great Britain pound vs Japanese yen
The development of the movement of the EUR/JPY cross-instrument in June 2020 will depend on the development and direction of the breakdown of the range:
resistance level 136.15 - the lower limit of the channel 1/2 Median Line of the Minuette operational scale fork;support level of 134.66 is the upper limit of ISL61.8 balance zone of the Minute operational scale fork.The breakout of ISL61.8 Minute - the support level of 134.66 - together with the initial SSL line (134.31) of the Minuette operational scale fork will determine the development of the GBP/JPY movement in the equilibrium zone (134.66 - 133.30 - 131.94) of the Minute operational scale fork.
In the breakdown of the resistance level 136.15, the movement of the cross tool will be continued in the channel 1/2 Median Line Minuette (136.15 - 137.30 - 138.50) with the prospect of reaching the lower border ISL38.2 (139.50) zone equilibrium of the Minuette operational scale fork with a possible upgrade of the maximum of 139.71.
Details of the development of the GBP/JPY movement from July 10, 2020 are shown on the animated chart.
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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).