Here are the latest market charts and analysis for today. Check them out and know what’s happening to the market today.
USDJPY
The pair was seen consolidating from the downtrend resistance line, which will send the pair lower to a major support line. The United States and Japan kick off the first day of trade talks with a focus on cutting tariffs on goods. The United States was a former member of the pacific rim trade pact, the TPP (Trans-Pacific Partnership), but the election of US President Donald Trump made the withdrawal from the pact as the first Executive Order from the president. Regional powers, Japan and Australia, revived the pact, which covers 1/3 of global trades. Aside from this, Japan and the European Union ratified the EU-Japan Free Trade Deal, which became the largest trading zone in the world. Japanese Finance Minister Taro Aso will travel to the US on April 25 to meet US Treasury Secretary Steven Mnuchin. Histogram already started going down, while EMAs 13 and 21 were expected to reverse in the following days.
USDCAD
The pair was expected to break down from the “Pendant Pattern” and was seen to go lower to 200 MA. Canada has formally joined the Germano-Franco Alliance to save the international world order from destruction following the rise of populism and nationalism across the globe, particularly from US President Donald Trump who led the withdrawal of his country from the rest of the world. The Germano-Franco Alliance led the European Union with the two (2) countries being the largest economy in the bloc. The alliance was also ditching the US leadership by creating its own flagships that would compete with the US, particularly the proposed EU military, which will prevent the European Union member states from being dependent from the US-led NATO (North Atlantic Treaty Organization) Alliance and the Euro against the US Dollar. Histogram and EMAs 13 and 21 were seen to reverse back.
AUDUSD
The pair failed to break out from a major resistance line, sending the pair lower to its nearest support line. The “make it or break it” situation on the trade talks between the United States and China will be a key for Australia to move ahead. Australia was on a deadlock situation with its relationship with China after the trade war between the US and China disrupted the international world order. Australia is a close ally of the US and the country cannot shrug off the US pressure when it comes to China, specifically after the US call for the Five Eyes Intelligence Alliance to ban Huawei amid security concern. The US and Australia was the only remaining member that was still at ban for the Chinese company, while Canada hasn’t banned the company and New Zealand and the United Kingdom had pulled out their earlier statement. Histogram and EMAs 13 and 21 were expected to crossover in the following days.
EURGBP
The pair failed to break out from a major resistance line and was expected to further go lower in the following days. The extension of the Brexit or the withdrawal of the United Kingdom from the European Union is putting the world into the brink of uncertainty. The UK was granted an extension until October 31 to form a deal that will spell out its future relationship with the EU. However, this will also mean that the United Kingdom can cast its vote on the upcoming European Parliamentary election. Aside from this, the leading candidate for the presidency of the European Commission, Frans Timmermans, admitted that he was hoping that the United Kingdom will revoke Article 50 and cancel the Brexit. The United Kingdom was the second-largest economy in the European Union after Germany and ahead of France. Histogram already begin going down, while EMAs 13 and 21 were expected to crossover in the following days.
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