Daily Market Charts and Analysis June 3, 2019

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

USDCZK

The pair was seen to bounce back from the uptrend channel middle support line, which will send the pair higher towards the channel’s resistance line. With 50.95% of the total votes already tallied, Germany’s European People’s Party (EPP) was seen leading with 179 seats already won. The party was led by Manfred Weber, making him the lead candidate to become the next President of the European Commission, which also means that the Germano-Franco alliance still dominates the EU institutions. The right-wing populist parties only made substantial gain during the election, which could weaken the Eastern and Nationalist bloc, the Visegrad group, with the possibility of increased pressure from the United States. U.S. President Donald Trump gave 180 days to pursue a negotiation between the U.S., the European Union, and Japan. Histogram and EMAs 13 and 21 was expected to reverse in the following days.

USDCHF

The pair was expected to bounce back from the uptrend channel support line, sending the pair higher towards its previous highs. U.S Secretary of State Mike Pompeo is visiting Switzerland amid heightened tensions with Iran, following the Syrian civil war, on which the United States and Russia were backing Israel and Iran, which in turn were backing the Assad Government and the opposition. Switzerland had long catered important talks regarding global issues. However, the visit was seen not only for the purpose of Iran talks but also on strengthening the relationship between the United States and Switzerland. U.S. President Donald Trump was also set to visit the United Kingdom this June as the two countries tries to improve their relationship amid the looming withdrawal of the United Kingdom from the European Union until October 31. Histogram and EMAs 13 and 21 was expected to go up in the following days.

EURCHF

The pair was set to bounce back from its lows, sending the pair higher to retest its previous resistance line. Following the end of the European Parliamentary Election, Switzerland voters agreed by a nearly two-to-one margin to adopt tighter gun controls in line with changes to European Union rules, heading off a clash with the European Union. With more than 50% of votes already tallied, the Germano-Franco alliance was seen to still dominate the bloc after the European People’s Party of Germany won 179 seats, with its leader Manfred Weber being the lead candidate to become the next President of the European Commission. This will give the EU the upper hand on the Brexit negotiations, which in turn will affect countries who signed the post-Brexit trade agreement with the United Kingdom. Histogram and EMAs 13 and 21 will move higher in the following days.

EURGBP

The pair will continue its rally after it broke out from a major resistance line, which will send the pair higher towards the nearest resistance line. With 50.95% of vote already tallied, the result shows that Germany’s European People’s Party (EPP) was leading with its leader Manfred Weber seen to be the lead candidate to become the next President of the European Commission. The surprise small gain of the far-right populist was seen to further increase the influence of the Germano-Franco alliance in the European Union. This will also be a game changer for the United Kingdom who was bound by law to participate in the European Parliamentary Election amid the extension of the Brexit until October 31. The win for Germany will seen as beneficial for any Brexit negotiations as it will give the EU the advantage to make the Brexit under its own terms. Histogram and EMAs 13 and 21 was expected to fail to crossover.