Daily Market Charts and Analysis February 26, 2019

Here are the latest market charts and analysis that will tell you something about the movements of the markets. Check them out!

EURPLN

The pair broke out of the resistance line, which will make the pair to rally following the formation of the “Golden Cross”. The Visegrad Group composed of Hungary, Poland, Czech Republic, and the Slovak Republic, was a rising nationalist bloc inside the EU, which aimed to overthrow the Franco-Germano led European Union ahead of the European Parliamentary Election. Hungary was the leading critic of the European Parliament and had lobbied nationalist parties and countries to help each other and win the majority in the Parliament, while Poland leads the establishment of an anti-EU league. However, European Council President Donald Tusk, a Polish, called on his countrymen to form a wide pro-European movement to oust the ruling nationalists in this year’s elections. Histogram and EMAs 13 and 21 was expected to experience a buying pressure in the following days.

USDCZK

The pair was expected to bounce back after hitting three (3) support lines; a normal support line, the “Rising Wedge” pattern support line, and 50 MA. The withdrawal of the United Kingdom from the European Union triggered the uprising of Euroscepticism, especially among countries with a small voice within the EU. The Visegrad Group opened the rebellion against the EU and called for parties and countries to elect Nationalist candidates during the European Parliamentary Election. The group also host the visit of Mike Pompeo, United States Secretary of State, to discuss and strengthen their cooperation. The Visegrad Group countries are members of the US led NATO (North Atlantic Treaty Organization) Alliance. Czech and Slovak Republic are the moderate members of the group, whereas Hungary and Poland are leading the Visegrad Group. Histogram and EMAs 13 and 21 was expected to reverse in the following days.

EURSEK

The pair will continue its rally to reach a 10-year high. The Swedish politicians changed their strategy from leaving the European Union, or known as “Swexit”, to influencing the European Parliament by winning the European Parliamentary Election in May. Sweden’s representative will propose up to 113 changes to the way the EU rules on its member states, the same concern with the nationalist bloc, the Visegrad Group. The decision to drop its withdrawal from the European Union comes from the left and right parties, which came out after a Russian SU-27 fighter jet took off from Kaliningrad, a Russian Province surrounded by Poland and Lithuania, and approached the Swedish surveillance plane, which was on a routine mission over the Baltic Sea. The Baltic Sea opens the way to the North Atlantic Ocean, the nearest way to attack the United States. Histogram and EMAs 13 and 21 was expected to continue its upward movement.

USDHUF

The pair was seen to break out of the down trend channel resistance line and retest its previous high. Hungary is leading the Visegrad Group, a Nationalist bloc in the European Union. Hungary’s plan was to lobby nationalist parties and countries and elect the majority in the European Parliament during the election, and if it failed, Poland had already talked with Eurosceptic countries to establish an anti-EU league. However, the group will not afford to directly confront the European Union without any backing from a superpower country. The Visegrad Group found an ally in the form of the United States. It was noteworthy that there is already a growing division between the US and the European Union. But this alliance doesn’t come without a price. The Visegrad Group will be a strategic location for the United States to counter Russia. Histogram and EMAs 13 and 21 was expected to reverse.