Daily Market Charts and Analysis May 15, 2019

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

EURCZK

The pair failed to breakout from the downtrend resistance line and from 200 MA, sending the pair lower towards 50 MA. Czech Republic is located at the heart of the Central and Eastern Europe (CEE), which borders Germany and the post-Soviet satellite states, which was also part of the Visegrad group, an Eastern and Nationalist bloc inside the European Union. The country also became the arena of political battle between pro and anti-EU, with the leading nationalist leaders, France’s Marie Le Pen, Italy’s Matteo Salvini, campaigning their support for their Czech political ally, Tomio Okamura and his far-right Freedom and Direct Democracy (SPD) party. However, it seemed that Czech Republic had already chosen its future path with Prime Minister Andrej Babis recently visited the White House to meet his counterpart, U.S. President Donald Trump, to discuss strengthening their relationship. Histogram and EMAs 13 and 21 will fall.

USDCZK

The pair was seen to further go higher in the following days after it found a strong support line from 50 MA. Following Czech Prime Minister Andrej Babis’ visit to the United States, he introduced a new ANO Party campaign ahead of the upcoming EU elections – familiar red baseball caps clearly inspired by U.S. President Donald Trump’s campaign of “Make America Great Again.” Instead of something along the lines of Make Czechia Great Again, the caps introduced by Babis bear the slogan “Silné Česko,” or “Strong Czechia.” The full slogan of the new ANO party campaign introduced by Babis is “Česko ochráníme. Tvrdě a nekompromisně,” or “We will protect Czechia. Strong and uncompromising.” Just like President Trump’s campaign, a big part of ANO party’s focus will be on the issue of immigration. Histogram and EMAs 13 and 21 will continue moving higher in the following days.

USDHUF

The pair was seen to move higher in the following days after its successfully bounced back from a major support line. On May 13, Hungarian Prime Minister Viktor Orban visited his U.S counterpart, President Donald Trump, with the later praising the former for a tremendous job that he had done for his country and to shrugged off complaints that his White House visit represents a reward for the erosion of democracy in Hungary and Orban’s close ties to the Russia. The United States was seen lobbying the Eastern and Nationalist bloc, the Visegrad group, headed by Hungary and Poland, as its relationship with the Germano-Franco led European Union was seen to deteriorate. Aside from that, the United States was also well-positioned to make a bilateral trade agreement with the United Kingdom once it officially leave the European Union until October 31. Histogram and EMAs 13 and 21 was seen to crossover in the following days.

USDMXN

The pair was expected to fail to breakout from the “Falling Wedge” resistance line, sending the pair lower towards the nearest support line. Since the election of U.S. President Donald Trump, he promised to wage war against countries it believed were doing unfair trade practices. The countries that were hit by the trade war includes its neighbors, Mexico and Canada. The proposal of President Trump to renew the policies covered by the NAFTA (North American Free Trade Agreement) gave birth to the USMCA (United States-Mexico-Canada), which was seen as a win for the United States. However, the Democrat took back the House of Representative during the recent U.S. Midterm Election, which prevented the Republican to pass the deal. Aside from this, Mexico became the largest trading partner of the United States as of April 2019. Histogram and EMAs 13 and 21 was seen to reverse in the following days.