EURUSD Analysis
EURUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
The EU is urging members and ministers to coordinate with each other on the purchase of military weapons. They are trying to secure the region in case Russia decides to go to far and start creating a war with the other neighboring countries as well.
XAUUSD Analysis
XAUUSD Gold price is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
Before Russia took aid from Iran for the war, it was Ukraine who had the upper-hand. However, Russia soon acquired military drones from Iran which were significantly helpful in the war. It is believed that these drones may even cause the war to shift in Russia’s favor.
XAGUSD Analysis
XAGUSD Silver price is moving in the Descending triangle pattern and the market has rebounded from the horizontal support area of the pattern.
Putin is now calling out to all adult and healthy males in the country in order to make them join the military to support their country. However, this decision is not being taken lightly. He is now overseeing all military drills with the newcomers to ensure they are up to the mark.
USDJPY Analysis
USDJPY is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Japan is soon going to reveal a $200 billion spending budget which is meant to help with the rising inflation in the country. This budget will help the citizens with their exceeding household expenses and utility bills. However, it is going to cause a negative impact in the long term.
USDCHF Analysis
USDCHF is moving in the Falling wedge Pattern and the market has rebounded from the lower low area of the pattern.
Switzerland is known to have a large supply of ammo for military tanks. It is also believed that Ukraine is in short supply of this ammo and that they are soon going to run out. Germany is now pressurizing Switzerland to export this ammo to Ukraine to help them in the war.
USDCAD Analysis
USDCAD is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
The Canadian government has recently revealed that they arrested two Syrian women and two Syrian children with suspicion of being involved in terrorist activities. The women have been repatriated and it is unclear as to what is going to happen to the children.
NZDUSD Analysis
NZDUSD is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
Two social media influencers from New Zealand had recently visited Iran for a trip to film for their blog. However, they were soon detained in Iran and remained there for quite some time. Fortunately, they were recently released and returned back to New Zealand.
GBPUSD Analysis
GBPUSD is moving in the Descending channel and the market has reached the lower high area of the channel.
In one of the first decisions as prime minister, Rishi Sunak has already created chaos among the people. He has decided to continue to place a ban on fracking which is drilling holes in underground rocks in order to extract oil to use for household activities.
GBPCHF Analysis
GBPCHF is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
The UK’s bond investors recently rejected their mini budget which has been a very humiliating moment for the country. This has sparked liquidity concerns as it seems like the country’s funds are being depleted and they are soon going to face a recession or bankruptcy.
EURAUD Analysis
EURAUD is moving in the Descending channel and the market has reached the lower high area of the channel.
Australia has been sanctioned out by China for failing to agree to their terms of trade. As a result, they are no longer sending or receiving goods from China. This has not impacted Australia thus far as they had already not relied on them for trade previously.
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