AUDUSD is moving in an Ascending channel and the Market has reached the higher low area of the channel.
Afghanistan is slowly losing itself to the rule of the Taliban and the people of the country are immensely suffering the inhumane conditions. The US says they have limited control over the country despite being partly responsible for the way it is right now.
XAUUSD Gold price is moving in the Descending channel and the Market has fallen from the Lower high area of the channel.
Russia now has a new target region in Ukraine after failing to take over some of its previous targets. Russia is looking to take over Kharviv and this is evident from the fact that they’ve recently been striking the area with artillery.
USDJPY is moving in the Descending channel and the Market has reached the Lower high area of the channel
Recently we have seen that Japan has been caught between the war between China and Taiwan and slightly in the war between Ukraine and Russia as well. As a result, they realize that they need to arm themselves better and are now thinking of building a nuclear weapon.
USDCHF is moving in an Ascending channel and the Market has rebounded from the higher low area of the channel.
Switzerland is known to be the country with the most stable banking system. This is why many people store their assets in this country. Even Uzbekistan had stored millions that were seized. However, it was revealed that Switzerland now returned its money.
EURCAD is moving in the Descending channel and the Market has rebounded from the Lower low area of the channel.
Reports were released earlier in the day which show the diversity in the job market in the EU. It was revealed that the fastest growing jobs in the EU are in hospitality and tourism. We also found out that unemployment was 6.6% last month which is a big reduction.
GBPCAD is moving in the descending triangle pattern and the market has rebounded from the horizontal support area of the pattern.
It was revealed earlier today that Canada is finally starting to slightly recover from the inflation crisis that has taken over the entire world. However, the Bank of Canada is not hopeful that this will last as they believe that this is only due to the temporary reduction in fuel prices.
GBPCHF has broken the Descending channel in Upside.
Despite Canada finally recovering from Inflation, the UK is doing not so great. It was revealed that the inflation in the UK has hit a 40-year high of 10.1% as the food and energy price surge continues to rise. The Bank of England is in big trouble.
Crude oil Analysis
Crude oil is moving in an Ascending channel and the Market has reached the higher low area of the channel.
In fear of recession due to the ongoing inflation crisis around the world, crude oil prices have dropped quite significantly and it seems like it is now touching a six-month low. This is the lowest point since before the war began in Ukraine.
AUDCAD is moving in an Ascending channel and the Market has reached the higher low area of the channel.
Australia’s former Prime Minister Scott Morrison has defended his actions after it was revealed he was secretly sworn in to control five key ministries in the government of the UK. The fact that he agreed to the accusations was a bad move and he may face the consequences.
NZDUSD is moving in an Ascending channel and the Market has reached the higher low area of the channel.
New Zealand’s central bank has unveiled its seventh consecutive interest rate hike to tame spiraling inflation, taking the benchmark rate to its highest point in quite some time. The interest rates were increased by half a basis point to 3%.
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