EURUSD is moving in the Descending channel and the market has reached the Lower high area of the channel.
While the majority of the EU faces a very serious heat wave crisis, it was recently revealed that this crisis has now progressed and the majority of the EU faces a drought crisis. It was revealed that 60% of the EU currently faces a threat of water shortage and drying riverbeds.
XAUUSD Gold price is moving in the Descending channel and the market has reached the Lower high area of the channel.
In Russia, it is currently illegal to speak against the government. Due to this reason, a Russian TV journalist was detained over the criticism of Ukraine war. She spoke in favor of Ukraine which made Russia angry and they detained her.
USDCHF is moving in an Ascending channel and the Market has reached the higher low area of the channel.
It was revealed that in order to battle and take climate change under control, US president Biden has recently announced a new project called chips where he is authorizing $280 billion in taxpayer money to subsidize rich computer chip companies and invest in technology research.
Crude Oil Analysis
Crude Oil is moving in the Descending channel and the Market has reached the Lower high area of the channel.
The war between China and Taiwan is currently one of the biggest factors impacting the crude oil markets. Even though it is said that there is currently nothing going on between the two, China is very well going to invade Taiwan very soon.
EURCHF is moving in the Descending channel and the market has rebounded from the Horizontal support area of the Pattern.
For the longest time, Switzerland has tried to remain neutral in the fight between Russia and Ukraine. However, they have recently had to make a choice between either of the two. Switzerland joined Ukraine in the fight against Russia.
EURCAD is moving in the Box Pattern and the Market has fallen from the horizontal resistance area of the pattern.
Canada is one of the largest suppliers of wood in the world. However, as a result of supply cuts from a top Canadian producer, the lumber prices have hit a two-week high and it is said that the prices are continuing to rise and also have an effect on the housing market.
GBPCAD is moving in an Ascending channel and the Market has reached the higher low area of the channel.
The UK is said to have captured an alleged 4th member of the terrorism team called Beatles. This member was outside the UK and has recently arrived in the UK due to which he was able to be caught at the airport. It is unclear if his identity is confirmed or if he is still just a suspect.
GBPNZD is moving in the Descending channel and the market has reached the Lower Low area of the channel.
We found out today that New Zealand tops the world for island pest eradication. What this means is that New Zealand was able to eradicate an invasive species of pests from the island. This is new as any other island country has not been able to do the same.
CHFJPY is moving in an Ascending channel and the Market has reached the higher low area of the channel.
Recently we found out that the situation in Palestine has become worse as Israel is continuing to bomb and fire the capital, Gaza. Japan’s foreign minister revealed that he is on Palestine’s side and he welcomes a ceasefire in Gaza and stresses that violence is not the answer.
AUDCAD has broken the Descending channel in Upside.
While the rest of the world continues to make trade deals with China, Australia is still on the fences. Australia does not believe that China has the best intentions especially due to the recent war with Taiwan. Therefore, Australia is not ready to tackle trade disputes.
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