Daily Market Charts and Analysis

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

EURNOK

The pair was expected to bounce back after hitting a major support line, sending the pair higher towards the nearest resistance line. As the deadline looms for the United Kingdom to leave the European Union, the more possibility that the UK might adopt a “Norway Plus Brexit” or a “No Deal Brexit”. Norway and Switzerland served as a model for a country outside the European Union. Switzerland was neither a member of the EU’s Single Market nor the EU’s Customs Union, but its relationship with the European Union was built on a series of bilateral trade agreement. On the other hand, Norway was also not a member of the European Union but can access the EU’s Single Market through the EFTA (European Free Trade Agreement). However, the EU already said that once the UK leave the EU, it will not get the same privilege that EU members enjoy. Histogram and EMAs 13 and 21 was expected to go up.

EURNOK charts

EURCZK

The pair was seen to recover after being sold heavily in the past few days. More and more nationalist countries are coming out following the rebellion of the Visegrad Group, an Eastern and Nationalist bloc inside the European Union, after it accused the Germano-Franco led EU of discriminating its member countries. The meeting between Czech Republic Prime Minister Andrej Babis and US President Donald Trump marks the third country in the Visegrad Group to fully embrace the US presence in its politics. The US backed the Visegrad Group as it wants to maintain a military presence on the Russian border after the US and Russia withdraw from the 1987 nuclear pact treaty, the INF (Intermediate-range Nuclear Forces). However,Czech’s economy was ailing with the country having the most number of job vacancies. Histogram was already reversing, while EMAs 13 and 21 was expected to reverse in the following days.

EURCZK chart

USDCZK

The pair will continue its steep decline following its break out from 50 MA, sending the pair lower towards 200 MA. The visit of Czech Republic Prime Minister Andrej Babis in the White House to meet US President Donald Trump was another win for America. US Secretary of State Mike Pompeo recently visited Hungary and Poland to show the US commitment to the Visegrad Group. The United States was also planning to establish a military base in Poland, which borders with an enclave Russian territory, the Kaliningrad. Hungary was seen leading the campaign of Nationalist candidates to control the majority in the European Parliament, while Poland leads the establishment of an anti-EU league. However, the plan of EU militarization might compete with the US led NATO (North Atlantic Treaty Organization) Alliance in the years to come. Histogram and EMAs 13 and 21 will continue its downward movement.

USDCZK chart

EURUSD

The pair was expected to fail to break out from 50 MA, sending the pair lower to its nearest support line. The relationship between the European Union and the United States was on its lowest point following US President Donald Trump’s withdrawal from global accords and pacts and with the EU assuming America’s role as the global leader. The two superpowers are once again on a dispute following the investigation of Boeing 737 Max and to use the Airbus carrier from France to replace the Boeing aircraft in Europe. Boeing is an American corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and missiles worldwide. Banning Boeing was expected to cost the United States’ economy of $57 Billion. The US warned that it will impose tariffs to Airbus if the Boeing company will not be lift from banned US companies. Histogram and EMAs 13 and 21 was expected to reverse.

EURUSD chart

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