Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today.
The pair will further go lower in the following days after its attempt to break out from 200 MA failed. Australia and New Zealand shares skepticism over US President Donald Trump’s plan to increase the tariff from 15% to 25% of the $200 Billion Chinese goods. Just like the trade war issue, the two (2) countries were on the same side with global issues. In the recent months, however, New Zealand has seen a shift on its foreign policy, making the country independent from Australia. The two (2) countries were members of the Five Eyes Intelligence Alliance and had banned the Chinese telecommunication giant Huawei. However, New Zealand took back its word and started working with China again to renew their relationship. On the other hand, Australia was pressured to take side with the United States against China. Histogram and EMAs 13 and 21 will continue going down in the following days.
The pair broke out from the “Rising Widening Wedge” pattern, sending the pair lower towards a major support line. After waging a trade war with China, the United States was once again on its way to wage a trade war with the European Union. This was after the EU banned US company Boeing amid the failure of its 737 Max and had flagged France’s Airbus to replace Boeing, angering the United States. However, this decision by the European Union might not only affect its relationship with the US but also with Brazil. Brazil turned out to be a pro-United States, giving the later an unparalleled influence in South America as Brazil was the largest economy in the region, and might lead the revival of the Mercosur deal, which will become the largest trading bloc in South America. Brazilian President Jair Bolsonaro was dubbed as the “Trump of South America”. Histogram and EMAs 13 and 21 will continue to fall down.
The pair was expected to retest its previous high following the formation of the “Golden Cross”. With the election of Brazil’s president Jair Bolsonaro comes the country’s foreign policy realignment. President Bolsonaro was dubbed as “South America’s Trump” as he was seen to be a nationalist, promoting the growth of Brazil more than anyone else. This had also encouraged President Bolsonaro to revive the Mercosur deal, which will become the largest trading bloc in South America, making the region self-sufficient. To make this happen, Brazilian President Jair Bolsonaro seek the help of the Trump Administration to oust the incumbent Maduro government and backed a pro-US candidate. However, this attempt and plan was not welcomed by the rest of the world, particularly China, whom during the trade war had accounted 80% of its total soybean import to Brazil. Histogram and EMAs 13 and 21 was expected to reverse in the following days.
The pair was expected to retest its previous high and will try to break out from the “Rising Wedge” pattern. With the fallout of the relationship between the United States and Turkey, the US is planning to sell its F-35 fighter jets to Romania and Poland, with the former being the nearest NATO (North Atlantic Treaty Organization) ally in the Black Sea and the later as the nearest NATO ally in the Russian enclave territory of Kaliningrad and in the Baltic Sea. In line with this, it was reported that the US THAAD (Terminal High Altitude Area Defense) radar and launchers from a C-17 Globemaster III planes at Mihail Kogalniceanu (MK) Air Base in Romania was already deployed. The deployment was seen as a preparation of the US to counter Russia’s aggression in Europe after the two (2) countries withdraw from the INF (Intermediate-range Nuclear Forces) treaty. Histogram and EMAs 13 and 21 will reverse.