Daily Market Charts and Analysis

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The forex currencies are on the move. Here are the most recent and most relevant daily market charts and analysis. Check them out!

daily market charts and analysis

USDRON

The pair will continue its rally after it broke out of the down trend channel’s resistance line. US President Donald Trump announced that he will withdraw from the INF (Intermediate-Range Nuclear Forces) Treaty with Russia, after he accused Russia of not complying with the treaty by developing armistice in its border with Finland, a member of the European Union and NATO (North Atlantic Treaty Organization). NATO is a formal alliance between North America and Europe, with the main purpose of defending each other from the possibility of communist Soviet Union taking control of their nation. Ukraine is applying to become a member of the European Union and NATO. Russia annexed Crimea in 2014, and had recently seized three (3) Ukrainian ships. With the withdrawal of the United States from the INF treaty, it was now positioning itself in Romania to face Russia in the Black Sea. Histogram and EMAs 13 and 21 was expected to continue its upward movement.

USDRON chart

EURNOK

The pair was expected to retest its previous high after finding support, after it broke out of the uptrend channel’s support line. As the European Union was being divided between the West and the East with the rising Nationalism, the European Commission, which is the European  Union’s executive branch, was becoming more aggressive in taming the member states’ ethics and behavior. The refusal of the European Commission President Jean-Claude Juncker to allow Italy’s budget deficit and lashing out Hungary’s President Viktor Orban of spreading “fake news” is a sign that the European Union is serious in obtaining a United States style Europe. It also plays down Norway’s suggestion of “Norway Plus Brexit” after the defeat of UK Prime Minister with her Brexit deal. The European Union said that if the United Kingdom will stay in the Single Market and Customs Union, it will need to follow and adopt the policies of the EU. Histogram already crossed over, while EMAs 13 and 32 was about to reverse.

EURNOK chart

EURHUF

The pair was seen to continue a steeper decline after it broke down of the “Triangle Formation”. Hungarian Prime Minister Viktor Orban warned that the European Union’s attempt to bring back the failed migration policy will divide the European Union ahead of the European Parliament election on May 23-26, 2019. It was noteworthy that the immigration policy cost Angela Merkel her chancellorship and de facto leadership in the European Union. Hungary is among the countries who plans to create an anti-EU league, together with Italy and Poland.. The European Union retaliated back. The European Parliament approved the European Commissions’, EU’s Executive Arm,  proposal to withhold funding from countries found to be violating the rule of law, after Hungary approved the EU’s dubbed “Slave Law”. German Chancellor Angela Merkel and French President and EU’s de facto leader Emmanuel Macron renewed their commitment to take full control of the European Union and create a bloc-wide European army, which European Union Council President Donald Tusk hailed he Franco-German  Aachen treaty. Histogram and EMAs 13 and 21 was about to reverse.

EURHUF chart

EURRUB

The pair was seen to bounce back following the failed cross over of MAs 50 and 200 that should lead to the creation of the “Death Cross”. As US President Donald Trump announced that he will withdraw from the INF (Intermediate-Range Nuclear Forces) Treaty, the European Union was preparing to a US independent European Union. The INF treaty was created after the end of World War II to prevent the United States and the Soviet Union successor, Russia, of developing a next generation of nuclear weapons. The NATO (North Atlantic Treaty Organization) survived, while the Warsaw Pact of the USSR (United States of Soviet Republics) failed. However, Trump also threatened that he will withdraw from the alliance if European allies will not pay its part for the defense, which would leave the European Union exposed to Russia. Russia also overtook the United Kingdom as the second largest arms producer, and the withdrawal of the UK from the European Union will add to the EU’s growing security concern. Yesterday, January 22, Germany and France signed Aachen treaty, which will further bolster the creation of a European army. Histogram and EMAs 13 and 21 will revere in the following days.

EURRUB chart

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