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The pair was expected to fall lower in the following days after it failed to break out from the two (2) major resistance line. Despite the United States’ withdrawal from the TPP (Trans-Pacific Partnership), the pact survived after Australia and Japan led the ratification and revised it to CPTPP (Comprehensive and Progressive Trans-Pacific Partnership), which came into effect last December 30, 2018. And now, a number of countries, including the United Kingdom, South Korea, Thailand, Indonesia, Philippines, and China already expressed their interest in joining the pact, which will comprise 1/3 of the global export. Aside from CPTPP, New Zealand had expressed its interest in making a post-Brexit bilateral trade relations with the United Kingdom, and had integrated its military with regional powers to counter China’s aggression in Asia-Pacific. Histogram and EMAs 13 and 21 is about to reverse.
The pair was expected to ounce back from MA 50 and retest its previous high. After the United States pulled out of the TPP (Trans-Pacific Partnership), regional powers Australia and Japan took the lead in the ratification of the trading bloc. Now, the two countries are reaping the reward without the United States. Australia and Japan will also integrate their military to counter China’s aggressiveness in the South China Sea. The two (2) countries are also extending its effort to dominate their region and shrug off China’s influence with Pacific island nations. Australia was also taking advantage of the Brexit after it express its willingness in making bilateral trading agreement with the post-Brexit United Kingdom. Increasing calls for the integration of the CANZUK (Canada-Australia-New Zealand-United Kingdom) was rising, which will pave way for the reintegration of the once superpower British Empire. Histogram and EMAs 13 and 21 is about to reverse.
The pair was seen to move lower in the following days as MAs 50 and 200 failed to cross over and create a “Golden Cross”. The two (2) regional powers are re-establishing their position as a dominant power in Asia Pacific after China in 2018 flex its military and economic power by creating a man-made island in the Spartly islands, which other countries also lay their claims. Both countries were also pivoting to the Europe region with Japan ratifying the EU-Japan Free Trade Agreement, and Australia expressing its interest in making bilateral trade negotiations with the United Kingdom once it withdraw from the European Union on March 29, 2019. However, Australia was facing an impending Australian Federal Election on or before May 18, 2019. The incumbent Prime Minister Scott Morisson expected to lose during the election, which signals a shift in the Australia’s future leadership. Histogram and EMAs 13 and 21 was expected to reverse in the following days.
The pair was expected to reverse after MA 200 act as a resistance, which the pair failed to break. Canada was experiencing turmoil within its economy after the ratified USMCA (United States-Mexico-Canada) was seen to favor the United States and hurt Canadian importer. US President Donald Trump also threatened the US Congress that he will pull out of the current NAFTA (North American Free Trade Agreement) if the ratified USMCA will not be approved. China also retaliated to Canada by arresting thirteen (13) Canadian citizen, with one of them receiving a death sentence. In a surprised move, Canada offered refugee status to a Saudi teen who was seeking a to be a refugee in Australia. It was noteworthy that Australia and the United States were not visible during the United Nations Global Compact on Migration, while Canada announced that it will add 100,000 residents as its citizen in 2019. Histogram and EMAs 13 and 21 was about to reverse.