AUDUSD Analysis
AUDUSD is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
While New Zealand has no plans to cooperate with China, it seems like Australia may finally be cracking as they are now considering to seek stable ties with China. They believe China holds great power and that it is only beneficial to be on its good side.
XAUUSD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has reached the lower high area of the channel.
Russia has teamed up with Iran against Ukraine which has confused nations worldwide. It seems as though Iran is trying to protect itself from facing cold winters without gas. Russia is taking advantage of Iran’s military against the war with Ukraine.
USDCHF Analysis
USDCHF is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Switzerland is all set to begin its two-year term in the United Nations Security Council. They are going to be sitting between Russia and the United Arab Emirates. This puts them in a difficult position as they don’t have good terms with the Kremlin.
USDJPY Analysis
USDJPY is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
Japan revealed that it spent just about $37 billion in order to help the Yen regain market control. This is a new record as it has never previously spent this much in order to help the economy. While this may help short term, it is going to have repercussions in the long term.
EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
The EU countries have had a meeting where they revealed that they’re going to be hiking their climate change targets every year. This decision is going to be enforced from next year, and they are going to ensure that all the EU nations play a supporting role.
GBPUSD Analysis
GBPUSD has broken the Descending channel and the market has retested and rebounded from the broken area of the channel.
There was recently a vote to see who would become the next prime minister. It was a battle between Liz Truss and Rishi Sunak. It was revealed earlier today that the votes have come to an end and Rishi Sunak has been named the new prime minister of the UK.
EURCAD Analysis
EURCAD is moving in an Ascending channel and the market has reached the resistance area of the minor Box pattern and channel.
Throughout the summer, the EU has been consistently increasing the price of gas. This has caused it to become unaffordable for many. As a result, the EU is now looking to pause these price hikes so people can afford to get passed winter.
Crude Oil Analysis
Crude Oil is moving in the Descending channel and the market has reached the lower high area of the channel.
China has always wanted to become a world dominator, and it has everyone’s attention now more than ever. They are looking to become the next US, and they are not backing down from any fight if it means that they are going to get this title in the end.
GBPNZD Analysis
GBPNZD has broken the Descending channel and retested and rebounded from the broken area of the channel.
New Zealand has always been a nation that would isolate itself from others and only focus on itself. However, with new threats from China and the uncertainty around the world, they are looking to build ties with other countries and have recently done so with India.
AUDCHF Analysis
AUDCHF is moving in the Descending channel and the market has fallen from the lower high area of the channel.
Crypto mining is one of the many processes that take up a lot of energy. Since so much energy is consumed during this process and there is currently an energy shortage around the world, the EU is looking towards banning crypto mining in order to preserve more energy for winter.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/buy/
