Here are the latest market charts and analysis for today. Check them out and know what’s happening to the market today.
USDBRL
The pair was sitting on a major support line and was expected to bounce back with the crossover between MAs 50 and 20, which resulted in a “Golden Cross”. Brazilian President Jair Bolsoanro’s government was in a rift following polls showing that the satisfaction and confidence of Brazilians to their president had declined after his 100 days in the office. On his first interview since being jailed a year ago, former Brazil President Luiz Inacio Lula da Silva said that Brazil was governed by “a bunch of lunatics” and United States “lackeys” who have shattered its international reputation. The former president attempted to run on the recent election but was not constitutionally allowed to do so, while his replacement lost. Aside from this, the sons of President Bolsonaro criticized the vice-president, while native groups protested against “anti-indigenous” Bolsonaro. Histogram and EMAs 13 and 21 will fail to crossover.
USDRON
The pair was seen to fall lower as part of a healthy uptrend movement with the “Rising Wedge” pattern. With the withdrawal of the United States and Russia from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces), the two (2) nuclear-armed countries were seen expanding their military presence in Europe and the Arctic region prompting a new era of Cold War. The US was now lobbying the Eastern and Nationalist bloc, the Visegrad Group to become the frontier of the US defense from Russia. With the fallout of the relationship between the US and Turkey, the United States were shifting its effort to Poland and Romania, specifically the selling of F-35 fighter jets. The US had also deployed its anti-ballistic missile defense system in Romania to support Ukraine’s claim in the Russian annexed Crimea in 2014. Histogram and EMAs 13 and 21 was expected to go up in the following days.
EURNOK
The pair was expected to fail to break out from the “Falling Wedge” pattern, sending the pair lower backed to the pattern’s support line. The divorce between the European Union and the United Kingdom prompted the alliance of the EU’s satellite states, with Norway recently signing a post-Brexit trading agreement with the United Kingdom. Norway was also a model that the UK might try to replicate as the Brexit deal by UK Prime Minister Theresa May had been turned down by the British Parliament for the third time. In 25 September 1972, Norway rejected a referendum for its membership in the European Union for 53.5%. Norway is a member of the EFTA (European Free Trade Agreement), which allows its members (Iceland-Liechtenstein-Norway-Switzerland) to access EU’s Single Market. Histogram and EMAs 13 and 21 was expected to fall lower in the following days.
EURHUF
The pair failed to breakout from a major resistance line, sending the pair back to its nearest support line. The European Union was facing a rebellion with the Visegrad group, specifically with Hungary. The Visegrad group was now being backed by the United States following the US fallout relationship with the EU. Italian Deputy Prime Minister Matteo Salvini formed a coalition in the European Parliament which he called “a vision of Europe for the next 50 years” at same time Hungarian Prime Minister Viktor Orban’s Fidesz party was suspended by the ruling party in the European Commission, the EPP (European People’s Party). Viktor Orban, together with Italy Deputy PM Salvini, and French National Rally leader Marie Le Pen, might rival to become the leader of the newly formed alliance. PM Orban had also met recently with Chinese Premier Li Keqiang. Histogram and EMAs 13 and 21 will fall lower in the following days.
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