Daily Market Charts and Analysis April 8, 2019

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

USDCZK

The pair was seen trading above 50 MA and was expected to continue its steep decline following its break down from major support lines. In March, Czech Prime Minister Andre Babis visited US President Donald Trump in the White House. The visit marks the 20^th anniversary of the Czech Republic being a member of the NATO (North Atlantic Treaty Organization) Alliance and the continued strengthening of the two (2) countries’ relationship following the pivot of the Eastern and Nationalist bloc, the Visegrad Group, to the United States. The visit was symbolic as the US and Russia pulled out from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces). The threat of a new era of cold war could further push the Visegrad Group to the US led NATO Alliance and deter the plan of the Germano-Franco lead European Union. Histogram and EMAs 13 and 21 was expected to continue going down in the following days.

USDHUF

The pair failed to sustain its strength after its upward movement was cut short from the resistance line and was expected to bounce back to form a “Triangle Formation”. The United States and Hungary signed a bilateral defense cooperation agreement to mark the 70^th founding anniversary of the NATO (North Atlantic Treaty Organization) Alliance. The members of the Visegrad Group [Hungary (1997) – Poland (1997) – Czech Republic (1997) – Slovak Republic (2003)] were all member of the NATO. The relationship between the United States and the Visegrad Group would be strategic for the two (2) parties with the United States having the ability to face Russia in Europe without using its own territory, and for the Visegrad Group to gain the military support of the NATO Alliance to counter Russia’s aggression in the Eastern Europe. Histogram and EMAs 13 and 21 was expected to reverse in the following days.

USDMXN

The pair will continue its steep decline following its failure to get back to the “Rising Wedge” pattern support line. US President Donald Trump hold the record of the longest US government shutdown in US history, which started from December 22, 2018 to January 25, 2019. This was following the reluctance of the US Congress to give President Trump’s demand of $5.7 Billion to fund the wall on its border with Mexico. The House of Representative was controlled by Democrats, while the House of Senate was controlled by Republicans. The proposed wall was one of the key policies that President Trump had promised during his 2016 Presidential Election campaign and is essential for his re-election bid in 2020. However, President Trump already abandoned his threat to continue the government shutdown but had warned Mexico of auto-tariffs. Histogram and EMAs 13 and 21 will continue falling down.

USDPLN

The pair was seen to bounce back from 50 MA, sending the pair higher and retest its previous highs. With the fall of the relationship between the United States and Turkey over Turkey’s plan to buy the Russian S-400 missile defense system amid being a member of the defense sharing agreement of the US led NATO (North Atlantic Treaty Organization) Alliance. The US was now pivoting to selling the F-35 fighter jets to Poland, Greece and Romania after it halted its sale of the fighter jets to Turkey. Poland also showed its willingness to host a US military base and to name it after the US President Donald Trump. This plan will further boost the US influence over the Eastern and Nationalist bloc, the Visegrad Group. The US plan to build a permanent military base in Poland was feared to spill the tension over the region following Russia’s aggression. Histogram and EMAs 13 and 21 was expected to reverse.