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The pair will continue to go lower in the following days. The relationship between the United States and South Africa was further deteriorating after the US accused South Africa of helping North Korea on oil importation. As Qatar was set to leave the OPEC (Organization of Petroleum Exporting Countries) on January 01, 2019, South Africa was trying to enter and get a chunk of the market share by amending its moratorium on gas and oil exploration licenses. South Africa also invest $1 Billion in South Sudan, who recently expanded its oil production as the country heavily relies on oil importation that accounts 98% of the country’s budget. Histogram and EMAs 13 and 21 was seen to further extend its down trend.
The pair bounced back after hitting the channel’s resistance and was seen to go lower in the following days. US President Donald Trump and Russian President Vladimir Putin had a discussion regarding the Russian annexation of Crimea and seizure of Ukranian ships amid earlier news stating that Trump cancelled his meeting with Putin over the Ukranian crisis. Putin and Saudi Arabia Crown Prince Mohammed bin Salman (MbS) was also seen to get along with each other during the G20 Leaders Summit in Buenos Aires, Argentina. Donald Trump was reluctant to impose sanctions to Saudi Arabia relating to the killing of Jamal Khashoggi. The inability of Trump to pressure these two counties are putting America in the corner. Meanwhile, French President Emmanuel Macron was seen to be more vocal in tackling global issues. Histogram was seen exhausting and EMAs 13 and 21 recently crossed over.
The UK Parliament was set to vote on December 11, 2018 for the deal that UK Prime Minister Theresa May negotiated with the European Union. The 27 member bloc already approved the deal and the decision of the UK Parliament will determine the relationship that the UK and the EU will have after leaving the bloc on March 29, 2019. The UK leaving the EU will give it the ability to make trading relations with other countries. China was the first one to express its willingness to make trading relations with the United Kingdom once it withdraws from the EU, and will be against Trump’s idea of containing China. Histogram was ready to reverse and EMAs 13 and 21 was about to go up.
The pair is expected to continue its rally. As Trump isolates itself from the world, by quitting TPP (Trans-Pacific Partnership), UN Human Rights Council, Paris Agreement, and threatens to quit INF (Intermediate-Range Nuclear Forces) Treaty and (WTO World Trade Organization), the European Union was presenting itself to lead the world through French President Emmanuel Macron’s leadership. The EU was also planning to establish its own military amid having most of the European Union’s country as members of NATO (North Atlantic Treaty Organization). Histogram and EMAs 13 and 21 was pointing for the pair to go up.