USDCHF is moving in the Descending channel and the Market has reached the Lower high area of the channel.
Seeing that China has now teamed up with Russia, The US finds itself in a very difficult position. They must now decide whether they want to continue fighting against Russia or if they want to stand down. This is because they no longer have the capacity to fight two superpowers.
XAUUSD Gold price is moving in the Descending channel and the Market has fallen from the lower high area of the channel.
China has previously shown a very neutral stance in the war between Russia and Ukraine. However, we all know that China and the US are mortal enemies. As a result, China has now defended Russia and are teaming up in order to launch major military drills in the country.
USDJPY is moving in the Box Pattern and the Market has fallen from the resistance area of the pattern.
As we already know, Pakistan is currently facing one of the worst floods it has ever faced. As a result, many countries are now donating to help the flood victims. Japan has also pledged a large sum of money in order to provide emergency relief caused by the flood.
EURCAD is moving in the Descending channel and the market has reached the lower high area of the channel.
Canada is also one of the many countries that have announced a large donation to flood victims of Pakistan. It has been revealed that the Canadian government has announced $5 million for the flood victims through local Pakistani Canadian organizations.
EURCHF is moving in the Descending channel and the Market has reached the Lower high area of the channel.
As we already know, many eve states are now cutting back on their energy use to save up for the winter period. However, people in Switzerland are not happy with this, especially in the engineering sector. This is because it impacts their ability to perform their tasks efficiently.
GBPUSD is moving in the Descending channel and the Market has rebounded from the Lower low area of the channel.
The UK’s Prime Minister has now declared China as a threat seeing that it has now teamed up with Russia. This is part of the prime ministerial candidate Liz Truss’ campaign where she pledges that she will protect the UK at all costs.
GBPNZD is moving in the Descending triangle pattern and the market has reached the horizontal support area of the pattern.
New Zealand faces a huge threat from China who wants to take over the trade in the region despite not being allowed to do so by Australia and New Zealand. As a result, New Zealand has now bought several military drones in order to maintain peace in the region.
Crude Oil Analysis
Crude Oil is moving in the Descending channel and the market has fallen from the lower high area of the channel.
Google prices have now reached a record high as a result of this supply cut by OPEC plus. Saudi and many other large oil producers have been cutting back on their oil supply to the rest of the world, which is causing major havoc worldwide.
AUDCHF is moving in the Box Pattern and the Market has reached the horizontal resistance area of the pattern.
The flood crisis in Pakistan is one of the major headlines worldwide. As a result, it is expected that many countries will donate. Australia has been one of these countries and has pledged $2,000,000 in funding for flood victims and disaster management in the country.
CHFJPY is moving in the Box Pattern and the market has fallen from the resistance area of the pattern.
The G7 leaders consistently hold meetings regularly in order to discuss mutual problems that are impacting the countries worldwide. It is said that Japan is going to host the next G7 meeting, which will happen next year in the Karuizawa resort.
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