Daily Market Charts and Analysis August 12, 2019

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

EURNOK

The pair will continue to go up after it found a strong support from a major support line, sending the pair higher to retest its previous high. Norway found radioactivity in the air days after an explosion during the test of a rocket engine in Russia killed five (5) people. This kind of test was prohibited before the United States and Russia withdraw from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces). The INF prevents Europe from becoming a battlefield between two (2) nuclear-armed countries. However, history might once again repeat itself after Russia and the U.S., together with China, was engage in a nuclear race. The Europe, particularly the European Union was still not ready for this scenario, which pushes EU-member states to rely of the U.S. led NATO (North Atlantic Treaty Organization) Alliance. Histogram and EMAs 13 and 21 will fail to crossover.

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EURHUF

The pair is expected to retest its previous high and to break out from 50 MA, sending the pair higher. The European Union and Hungary entered a renewed relationship after the election of the new European Commission President Ursula von der Leyen had pushed for to reconcile with the Visegrad Group, an Eastern and Nationalist bloc inside the European Union. This had bought optimism for a “United States of Europe”. Days before Von der Leyen visited the group, Hungarian Prime Minister Viktor Orban had been lambasting the European Union. First, he rejects tying EU funding to the rule of law, which the European Parliament accused him of violating. Second, he expressed his disappointment to the EU and said that it made a grave mistake in the past five years regarding immigration and the economy. Histogram and EMAs 13 and 21 was expected to further go up in the following days.

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EURRUB

The pair is seen to continue going up and to breakout from a major resistance line and from 200 MA. The European Union was once again caught on the war between two (2) nuclear-armed countries, the United States and Russia. The two (2) countries withdraw from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces) in February, leaving the European Union defenseless. The Germano-Franco had already expressed their willingness to build their own military despite most EU-member states being a member of the NATO Alliance. However, time was still not enough for the EU to be a military power. Russia had already annexed a Georgian territories and Ukrainian territory of Crimea, a country applying to become a member of the European Union and the NATO (North Atlantic Treaty Organization) Alliance. Histogram and EMAs 13 and 12 was seen to further go up in the following days.

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EURPLN

The pair will continue to go up and to breakout from an uptrend resistance line. Poland had warned EU countries against rapprochement with Russia following its increasing military activity on its border with the EU. Concerns were further heightened following the withdrawal of the United States and Russia from the INF (Intermediate-range Nuclear Forces) treaty. In line with this, Poland had offered the U.S. military bases on its soil to be named after U.S. President Donald Trump to bolster its military and counter any attempt by Russia to take advantage of the vulnerability of the European Union. Amid this, the new European Commission President Ursula von der Leyen had visited the members of the Visegrad Group, her first move towards unifying the Europe and to attain a “United States of Europe”. Histogram and EMAs 13 and 21 was expected to continue moving higher in the following days.

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