EURUSD Analysis
EURUSD is moving in the Box Pattern and the Market has rebounded from the Horizontal support area of the Pattern.
The EU had been in talks with New Zealand for a trade deal for over four years. Today the trade deal was finally signed and finalized. This trade deal is really important for EU businesses as they now no longer need to pay huge amounts in tariffs to trade with New Zealand.
Gold Analysis
XAUUSD Gold price is moving in the Descending channel and the Market has reached the Lower Low area of the Channel.
In the early days of the Ukraine war, Russia had occupied Ukraine’s Snake Island in the Black Sea. However, today we found out that Ukrainian military troops have finally driven out the Russian soldiers and have regained control of their Snake Island.
USDCAD Analysis
USDCAD is moving in the Descending channel and the Market has reached the Lower high area of the channel.
Today Canada is celebrating Canada Day which is an important historical event. In celebration of Canada Day, the streets of Canada are closed to all vehicles and the government of Canada has abolished the taxes on gas for one day.
USDCHF Analysis
USDCHF is moving in the Descending channel and the Market has reached the Lower high area of the Channel.
Today Switzerland paid a cohesion contribution of $1.36 billion to the EU. The purpose of this contribution is to allow Switzerland to participate in the European Single Market since it is not a member of the EU. This will allow Switzerland to carry out several projects in EU states.
GBPAUD Analysis
GBPAUD is moving in the Box Pattern and the Market has reached the Horizontal resistance area of the Pattern.
The UK was one of the most impacted by COVID-19 cases during the last waves. It has been clear of any major spreads for quite some time now. However, today we found out that the COVID-19 levels in the UK have increased by 30% in a week and reached 2.3 million cases.
GBPNZD Analysis
GBPNZD is moving in an ascending triangle pattern and the Market has fallen from the Horizontal resistance area of the Pattern.
New Zealand is currently in hot waters with China as President Arden recently revealed in a speech that she believes China has become more willing to challenge international rules. China takes offense to this statement as says they are misguided accusations.
CADJPY Analysis
CADJPY is moving in the Box Pattern and the Market has reached the Horizontal resistance area of the Pattern.
Today for the first time in seven years Japan has entered energy-saving mode as the government has asked the citizens to cut down on their energy consumption. This is due to finding out that today the east of Japan has recorded the highest temperature ever of 40.3C.
AUDCAD Analysis
AUDCAD is moving in the Descending channel and the Market has reached the Lower Low area of the channel.
Today we found out that Australia has faced a crash in its housing market which is very unusual for this state. Sydney and Melbourne are usually booming during housing season but both are currently struggling due to the rising interest rates choking buyer demand.
AUDJPY Analysis
AUDJPY is moving in the Descending triangle pattern and the Market has rebounded from the Horizontal support area of the Pattern.
After seeing how Russia attacked Ukraine after being in bad relations for several years, Japan is looking to increase its defense budget as they fear that China or North Korea may do the same to them. They are looking to be more realistic with their approach now than ever before.
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