GOLD Analysis
XAUUSD Gold price is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
People who were previously backing Russia in the war against Ukraine have now turned against the Kremlin by revealing that the entire war did not go as planned, and it seems like Russia is now making a fool of itself. They need to end it one way or the other immediately.
SILVER Analysis
XAGUSD Silver Price is moving in the Descending channel and the market has reached the lower high area of the channel.
China has recently faced great controversy for their role in supporting Russia in the war against Ukraine. While the Chinese government has previously denied holding such a role, they recently revealed that their reasoning is strategic and of significant importance.
USDJPY Analysis
USDJPY is moving in an Ascending channel and the market has reached the higher low area of the channel.
One thing we have noticed is that Japan has been trying to get more tourists to come to the country in order to boost tourism after a very long battle with the pandemic. They have eased visa restrictions, but they failed to realize that the ticket prices are still high due to inflation.
USDCHF Analysis
USDCHF is moving in the Descending channel and the market has fallen from the lower high area and reached the Horizontal support area of the channel.
Switzerland has recently been finding favorable areas where they can dump a large amount of nuclear waste if need be. It was recently revealed that this favored location is none other than Zurich near the German border. They will dump this nuclear waste underground.
EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
The EU has been trying to become more climate-friendly and one of the ways they were thinking of becoming so was by eradicating the use of pesticides in agriculture. However, due to the recent global food shortages, they have decided to postpone this ban for now.
GBPUSD Analysis
GBPUSD is moving in an ascending channel and the market has rebounded from the higher low area of the channel.
Despite the government issuing a price cap on energy in the UK, it seems as though the UK is still set to hit an energy poverty this winter. No amount of energy-saving will be enough to protect them from potential load-shedding these winter months.
AUDCAD Analysis
AUDCAD is moving in the Descending channel and the market has reached the lower high area of the channel.
Recent data revealed that the debt-to-income ratio in Canada has now reached record-breaking highs as Canadians are struggling to pay off their debts. This can be attributed to the inflation crisis in the country, which the Bank of Canada is struggling to control.
AUDUSD Analysis
AUDUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
The US has previously been a top destination for Russian officials to store their funds. However, Russian bankers are now being kicked out from continuing to hold their funds in American banks, and they are being transferred to Dubai banking systems instead.
AUDCHF Analysis
AUDCHF is moving in the Descending channel and the market has fallen from the lower high area of the channel.
We previously mentioned how Australia no longer sees how the monarchy is benefitting them in any way. As a result, they now thinking of replacing their bank notes which have the face of the late Queen, with Australian officials instead of the new King.
NZDUSD Analysis
NZDUSD is moving in an ascending triangle pattern and the market has rebounded from the higher low area of the triangle pattern.
New Zealand is currently in the midst of a food shortage. Vegetable and dairy products are in short supply, which has caused them to significantly increase in value. This resulted in New Zealand food prices being at the highest level in 13 years.
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