Silver Analysis
XAGUSD Silver price is moving in the Descending channel and the Market has rebounded from the Lower low area of the channel.
In a surprising turn of events, it seems as though China was not alone in its military action around Taiwan. It seems as though the US has also backed China in its fight against Taiwan, which has angered civilians worldwide.
Gold Analysis
XAUUSD Gold price is moving in the Descending channel and the Market has reached the Lower high area of the channel.
Russia is becoming increasingly dependent on China while the rest of the world shuts it down. While Russia is struggling to make friends due to the war it created in Ukraine, it seems that China is the only one still supporting this superpower.
USDJPY Analysis
USDJPY is moving in an Ascending channel and the Market has reached the higher low area of the channel.
Japan is one of the top buyers of natural gas in the world. They are rushing to secure supplies for winter due to a global shortage. As a result, since they are hoarding gas, the gas prices in Asia have significantly risen, which has angered the public.
USDCHF Analysis
USDCHF is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
We have seen that for several months now, Russia and Ukraine have tried to have talks to resolve the war and have peace. However, these talks are unsuccessful. Switzerland has now been asked by Ukraine to represent them in talks in hopes that maybe they can solve the war.
EURGBP Analysis
EURGBP is moving in the Descending channel and the market has reached the Lower higher area of the channel.
Since the EU is suffering due to the war in Ukraine, they are looking to make new relations with different countries. The EU is now discussing partnership plans with Pakistan in order to strengthen cooperative bilateral ties in hopes that they may come in handy in the future.
EURAUD Analysis
EURAUD is moving in the Descending channel and the Market has rebounded from the lower low area of the channel.
The Australian cricket board recently revealed that Mel Jones, who is a former Australian cricketer, had to be stepping down from her position. She served as one of the nine board of directors, but she recently is retiring. Fans are saddened but wish her luck.
GBPCHF Analysis
GBPCHF has broken the Descending triangle pattern in Downside.
The UK’s economy is suffering a major hit, but this is not unexpected. As a result of the rising prices of normal products, households have been cutting their spending. This has caused a blow to the economy, and it is said that the UK will go into recession by the end of the year.
CADCHF Analysis
CADCHF is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Polio has been one of the few viruses that had been completely eradicated from many countries, including Canada. However, it was recently revealed that there are some suspected positive polio cases in Canada which is causing a major concern.
AUDNZD Analysis
AUDNZD is moving in an Ascending triangle pattern and the Market has rebounded from the higher low area of the pattern.
In a recent statement, the Reserve Bank of New Zealand revealed that they are still going to carry on with their price hikes as inflation is still not at the level that they want it to be. As a result, we are to expect a 50bps hike as soon as possible.
NZDUSD Analysis
NZDUSD is moving in an Ascending channel and the Market has fallen from the higher high area of the channel.
The cruise industry has been one of the most successful industries in the past. However, due to the pandemic, this industry had to be shut down. However, it was revealed that New Zealand welcomed its first cruise ship since COVID-19, which is a big step in the right direction.
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