EURUSD Analysis
EURUSD is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
The EU signed an $80 million agreement with Egypt for a border management program. This program is meant to help with the migration process between Egypt and Libya. This program is also aimed at reducing the illegal immigrants in the region.
XAUUSD Analysis
XAUUSD Gold price is moving in the Box pattern and the market has reached the horizontal support area of the pattern.
Since Russia took over the Black Sea, this route has been facing trade difficulties. The UN had previously signed an agreement with Russia to allow them to use this route for food transportation. However, Russia recently backed out of the deal and is causing food shortages.
XAGUSD Analysis
XAGUSD Silver Price is moving in the Descending channel and the market has rebounded from the lower low area of the channel.
China once again faced a COVID outbreak, and this time it was at one of their Apple manufacturing facilities. The entire place went into lockdown, and workers escaped from the area. It is believed that this is going to cause a short supply of Apple products.
USDJPY Analysis
USDJPY is moving in an Major Ascending channel and the market has fallen from the higher high area of the minor ascending channel.
We recently revealed how Japan spent over $42 billion to prop up the Yen market. This decision was made in light of the fact that the economy was under a great burden due to inflation and rising prices of household goods. However, this decision is going to have long-term impacts too.
USDCHF Analysis
USDCHF is moving in an Ascending channel and the market has rebounded from the higher low area of the channel.
Switzerland is breaking records once again as it recently revealed that it is now home to the world’s longest passenger train. This passenger train has 100 coaches and passes through the Swiss Alps, giving residents and foreigners a great view of the majestic scenery.
GBPUSD Analysis
GBPUSD is moving in the Descending channel and the market has fallen from the lower high area of the channel.
China’s president recently met up with America’s president in order to discuss the possibility of good ties between the two countries. These two superpowers have always been at each other’s throats but now they are willing to build good ties between each other.
GBPCHF Analysis
GBPCHF is moving in an Ascending channel and the market has fallen from the higher high area of the channel.
In this year alone, Switzerland has recorded a loss of 6% of their glaciers. These glaciers have melted and are a potential climate change threat to the region. Despite already being close to the winter season, these glaciers don’t seem to be refreezing which is concerning.
GBPNZD Analysis
GBPNZD is moving in the Box pattern and the market has fallen from the horizontal resistance area of the pattern.
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.
We recently talked about how Russia is teaming up with different Asian countries in order to strengthen itself in the war. They recently even stated to have built ties with South Korea for this purpose. However, South Korea has denied all allegations of any ties with Russia.
CADCHF Analysis
CADCHF is moving in the falling wedge pattern and the market has reached the lower high area of the pattern.
Remember how we talked about how Australia is trying to separate itself from the British monarchy? It turns out that Canada’s province of Quebec is also planning on doing the same as their separatist party calls for a split between the two nations.
Don’t trade all the time, trade forex only at the confirmed trade setups.
Get more confirmed trade setups here: forexgdp.com/buy/
