Daily Market Charts and Analysis March 29, 2019

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Market Charts and Analysis

Here are the latest market charts and analysis for today. Check them out and know what’s happening to the market today.

EURSEK

The pair found a strong support line from 200 MA, which will send the pair higher towards the previous uptrend support line. Former Swedish Prime Minister Carl Bildt said on a statement that the European Union must adopt to the “new world order” as the member states faces global challenges they cannot solve alone, and the bloc must change to address them. As the United States, Russia, and China tussle for global supremacy, the European Union lagged behind. PM Bildt said that the European Union is in a state of transition at a time when the global situation is much more complicated than it used to be, in a speech at the Expert Investor Pan-European Congress. As Prime Minister, Bildt negotiated Sweden’s accession to the EU in the 1990s and also served foreign minister as well as the EU’s special envoy to the former Yugoslavia. Histogram and EMAs 13 and 21 was expected to reverse in the following days.

EURSEK chart

USDHUF

The pair will continue its rally after it found a strong support line from its previous resistance line on the downtrend channel. The US State Department is sending two high-level officials to a migration summit this weekend in Hungary – a country whose controversial far-right ruling party has maintained a hardline anti-migration stance, with one of the strictest policies against immigrants in Europe, and has cracked down on civic organizations, the media and academic institutions. The United States also maintain the same stance with Hungary and with the other members of the Eastern and Nationalist bloc, the Visegrad Group. The strengthening relationship between the two (2) countries was the result of narrowing relationship between the US and the European Union, and the need of the US to strengthen its defense through the NATO (North Atlantic Treaty Organization) Alliance. Histogram and EMAs 13 and 21 will continue to go up.

USDHUF chart

USDMXN

The pair was seen to reverse back after its upward movement was stopped by 200 MA, a resistance line, and the “Widening Wedge” pattern support line. Mexican President Andrés Manuel Lopez Obrador pushed back against US President Donald Trump’s criticism on illegal immigration by saying that its was not up to Mexico to resolve the problem, but for the United States. This was after the US-Mexico border comes at a breaking point amid a surge in the number of immigrants who want to cross the border that could reach up to one (1) million, and an impending “mother of all caravans” heading to the border. Data also shows that the China was pivoting to Central and South America to offset US tariffs, particularly in Mexico and Brazil, two (2) US allies. The United States and China was still on an extended trade truce, with no deadline for a deal in hindsight. Histogram and EMAs 13 and 21 was seen reversing back.

USDMXN chart

USDPLN

The pair was expected to continue going up after it bounced back from the uptrend support line and as part of the “Widening Falling Wedge” pattern. With the withdrawal of the United States and Russia from the 1987 nuclear pact, the INF (Intermediate-range Nuclear Forces) Treaty, the US was now seen lobbying the Eastern and Nationalist bloc, the Visegrad Group, to strengthen the defense of NATO’s (North Atlantic Treaty Organization) Eastern Frontier and to increase its influence in Europe after the European Union’s plan to have its own military and rid its dependence of the US-led NATO. Russia continue to be aggressive in the Black Sea and the Baltic Sea, which were link to the North Atlantic Ocean where the US were situated. Poland offers a “Fort Trump” on its soil to prepare the country for any Russian Aggression towards the Eastern bloc and Baltic nations. Histogram and EMAs 13 and 21 will continue to go up.

USDPLN chart

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