Here are the latest market charts and analysis for today. Check them out and know what’s happening to the market today.
The pair was expected to continue its downward movement after it failed to sustain its strength following its breakout from MAs 50 and 200. Australia and Canada seemed to be losing against the much smaller New Zealand as it was able to strike a deal with the European Union and the United Kingdom and was expected to meet with Chinese President Xi Jinping in the following days to discuss strengthening their trading relationship. However, between Australia and Canada, the later was seen to be at an advantage as it haven’t sign a post-Brexit trading agreement with the United Kingdom and haven’t ratified its trading agreement with the United Kingdom. Australia was left expose to the United States slowdown and the uncertainty surrounding the Brexit. The post-Brexit agreement was also hurting Australia with its existing Free Trade Agreement with the EU. Histogram and EMAs 13 and 21 will continue going down.
The pair failed to breakout from then downtrend channel resistance line, sending the pair lower to the channel’s middle support line. Australia and Japan were two regional powers in Southern Asia and were both leading the pacific rim trade, the CPTPP (Comprehensive and Progressive Trans-Pacific Partnership). The two (2) countries were also the target of the European Union and the United Kingdom as they extend their influence towards Asia amid the slowing global growth brought by the trade war between the United States and China. Japan will enter a new era called Reiwa as it prepares to crown the new Japanese Emperor, Crown Prince Nahurito, on May 01. Australia on the other hand, had entered a recession, its first in thirty (30) years, signaling the first country that might trigger the 21st Century’s first Global Financial Crisis. Histogram started to reverse, while EMAs 13 and 21 was expected to reverse in the following days.
The pair was seen to get back from the downtrend channel after its breakout was topped by a major support line and 50 MA. In the past months, New Zealand was seen from being Australia’s shadow to being independent on its foreign policy. New Zealand was the first country to express its interest in making bilateral trade agreement with the United Kingdom while maintaining its existing trade relation with the European Union. The country also abstained from taking sides in the Venezuelan crisis. The country also defied the pressure from the United States to ban the Chinese technology company Huawei amid security concern. The recent Christchurch Mosque shooting also shows the world about compassion as New Zealand Prime Minister Jacinda Ardern was shown hugging a victim’s relative, which was projected on Burj Khalifa, the world’s tallest building. Histogram and EMAs 13 and 21 will crossover in the following days.
The pair found a strong support line from a major resistance, which pushed the pair higher towards 200 MA. The European Union was seen to be the most likely winner as the bloc competes with the United Kingdom as the divorce between the two (2) forced their allies to take sides between them in making a trade agreement. Australia choose the United Kingdom, Japan choose the European Union, while New Zealand landed a deal with the EU and the UK. Canada might follow Japan’s move to take side with the European Union after the ratified EU-Japan Free Trade Deal created the largest trading zone in the world. It would also be ideal for Canada to choose the European Union following the decision by US President Donald Trump to review its border agreement with Canada. The European Union and the United States was seen to be taking different paths. Histogram and EMAs 13 and 21 was expected to reverse.