Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today.
The pair was seen to continue to fall lower in the following days after its broke down from a key support line. The United States and Brazil was in a renewed relationship this year following the election of Jair Bolsonaro, which was dubbed as “South America’s Trump”. Just like President Trump, President Bolsonaro was also a populist leader. During his inauguration, he promised to revive the largest trading bloc in South America, the Mercosur, and to put “Brazil First”. Despite having the same ideology, being an ally with the same mindset can be catastrophic. President Trump appointed his daughter and son-in-law as his senior advisors. Now, President Bolsonaro is doing the same thing and had appointed his son, Eduardo Bolsonaro, as the next ambassador to the United States. In line with this, President Trump was planning to name his son, Eric Trump, as the next ambassador to Brazil. Histogram and EMAs 13 and 21 will continue to move lower.
The pair was expected to fail to breakout from a major resistance line, sending the pair lower back to its previous low. Romania is seen increasing its participation in the U.S. defense as Mircea Geoana, a Romanian, has been chosen by NATO (North Atlantic Treaty Organization) Secretary General Jens Stoltenberg to become the next Deputy Secretary General. This was following the U.S. decision to halt its delivery of F-35 fighter jets to Turkey amid the country’s purchase of Russia’s S-400 missile defense system. The purchase was seen to compromise the defense sharing agreement of the NATO alliance. In line with this, the United States will be selling the fighter jets to Poland and Romania as it tries to build the eastern bloc to counter Russia’s aggression on its border with Europe. Histogram and EMAs 13 and 21 was expected to reverse back in the following days.
The pair was seen to continue its upward movement after it bounced back from a major support line. Norway was trying to side with the European Union following its failure to influence the United Kingdom to do a “Norway Plus Brexit”. Norway was not a member of the European Union but was able to access the bloc’s Single Market by being a member of the EFTA (European Free Trade Agreement). The EU and the EFTA had a bilateral trade agreement. EFTA was composed of non-EU European countries. Following the resignation of UK Prime Minister Theresa May, the leading candidates, former and current Foreign Secretary Boris Johnson and Jeremy Hunt, was seen outgunning each other to become the “harder Brexiter”. This means that the country will certainly leave the bloc until October 31 even if it will result to a “No-Deal Brexit”. Histogram and EMAs 13 and 21 was poised to go up.
The pair failed to breakout from a key resistance line, sending the pair lower back to a major support line. Following the election of the new European Commission president, Germany’s Ursula von der Leyen, hopes of the unity among EU-member states was being expected. However, this will not be as easy as it sounds. Aside from uniting the European Union, she will also need the majority support of the European Parliament. Now, Hungarian and Polish Members of the Parliament (MPs) has already been threatening her that without them there will be “chaos”. In line with this, Hungarian Prime Minister Viktor Orban sad that the country is no longer dependent to EU funding, which will make Ursula von der Leyen’s job harder. Despite this, she said that she will never let Hungary and Poland to slide away from democracy. Histogram and EMAs 13 and 21 already crossed over.